Business
WD-40 Company Reports Second Quarter 2021 Financial Results
~ Second quarter consolidated net sales grew by 12 percent compared to prior year fiscal quarter ~~ Company reports diluted EPS of $1.24 for the second
About this update from Wd-40 Company
[{"type":"text","content":"~ Second quarter consolidated net sales grew by 12 percent compared to prior year fiscal quarter\n ~~ Company reports diluted EPS of $1.24 for the second quarter\n\n\nSAN DIEGO, April 8, 2021 /PRNewswire/ -- WD-40 Company (NASDAQ:WDFC), a global marketing organization dedicated to creating positive lasting memories by developing and selling products that solve problems in workshops, factories and homes around the world, today reported financial results for its second fiscal quarter ended February 28, 2021.\n\n \n \n \n \n \n \n\n \nThird Fiscal Quarter Financial Highlights \nTotal net sales for the second quarter were $111.9 million, an increase of 12 percent compared to the prior year fiscal quarter. Year-to-date total net sales were $236.5 million, an increase of 19 percent compared to the prior year fiscal period. Translation of the Company's foreign subsidiary results to U.S. dollars had a favorable impact on sales for the current quarter and year-to-date. On a constant currency basis, total net sales would have been $109.2 million for the second quarter and $231.0 million year-to-date. Net income for the second quarter was $17.2 million, an increase of 20 percent compared to the prior year fiscal quarter. Year-to-date net income was $40.8 million, an increase of 54 percent from the prior year fiscal period. Diluted earnings per share were $1.24 in the second quarter, compared to $1.04 per share for the prior year fiscal quarter. Year-to-date diluted earnings per share were $2.96 compared to $1.92 in the prior year fiscal period. Gross margin was 55.4 percent in the second quarter compared to 53.6 percent in the prior year fiscal quarter. Year-to-date gross margin was 55.9 percent compared to 53.9 percent in the prior year fiscal period. Selling, general and administrative expenses were up 19 percent in the second quarter to $35.5 million when compared to the prior year fiscal quarter. Year-to-date selling, general and administrative expenses were up 14 percent to $71.5 million compared to the prior year fiscal period. Advertising and sales promotion expenses were up 13 percent in the second quarter to $5.5 million when compared to the prior year fiscal quarter. Year-to-date advertising and sales promotion expenses were up 6 percent to $11.0 million compared to the prior year fiscal period. \"We continue to experience very h...