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Company cites weakness in the global economy.
April 8, 2009
By: TOM BRANNA
Editor
WD-40, San Diego, said fiscal second quarter sales slid 21.7% to $61.8 milion.Net income fell 52.9% to $4.1 million. For the first half, sales dropped 8% to $145.4 million. Year-to-date net income fell 21% to $11.8 million. “During the quarter, we were negatively impacted by the overall weakness in the global economy, the Carpet Fresh brand valuation charge as well as the negative impact of the foreign currency exchange rates,” said Garry O. Ridge, WD-40 Company president and chie...
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