Business
WD-40 Company Reports Second Quarter 2022 Financial Results
~ Second quarter consolidated net sales grew by 16 percent compared to prior year fiscal quarter ~ ~ Company reports diluted EPS of $1.41 for the second
About this update from Wd-40 Company
[{"type":"text","content":"~ Second quarter consolidated net sales grew by 16 percent compared to prior year fiscal quarter ~\n~ Company reports diluted EPS of $1.41 for the second quarter ~\nSAN DIEGO, April 7, 2022 /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, 2022.\n\n \n \n \n \n \n \n\n \nSecond Fiscal Quarter Financial Highlights \nTotal net sales for the second quarter were $130.0 million, an increase of 16 percent compared to the prior year fiscal quarter. Year-to-date total net sales were $264.7 million, an increase of 12 percent compared to the prior year fiscal period.Translation of the Company's foreign subsidiary results to U.S. dollars had an unfavorable impact on sales for the current quarter and a favorable impact on sales year-to-date. On a constant currency basis, total net sales would have been $130.9 million for the second quarter and $262.2 million year-to-date.Net income for the second quarter was $19.5 million, an increase of 13 percent compared to the prior year fiscal quarter. Year-to-date net income was $38.1 million, a decrease of 7 percent from the prior year fiscal period.Diluted earnings per share were $1.41 in the second quarter, compared to $1.24 per share for the prior year fiscal quarter. Year-to-date diluted earnings per share were $2.75 compared to $2.96 for the prior year fiscal period.Gross margin was 50.4 percent in the second quarter compared to 55.4 percent in the prior year fiscal quarter. Year-to-date gross margin was 50.6 percent compared to 55.9 percent in the prior year fiscal period.Selling, general and administrative expenses decreased 2 percent in the second quarter to $34.8 million when compared to the prior year fiscal quarter. Year-to-date selling, general and administrative expenses increased 3 percent to $73.2 million compared to the prior year fiscal period.Advertising and sales promotion expenses were up 2 percent in the second quarter to $5.6 million when compared to the prior year fiscal quarter. Year-to-date advertising and sales promotion expenses were up 2 percent to $11.2 million compared to the prior year fiscal period.\"The resil...