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Wednesday, October 14, 2009
WD-40 Shares Jump on 4Q Results, Outlook
By Kathryn Glass
FOXBusiness
Maker of household products, WD-40 Co. (WDFC) reported fourth-quarter results that beat analyst estimates and issued fiscal 2010 guidance above the street’s view on Wednesday after the closing bell.
The company forecast 2010 earnings to range between $1.80 and $1.95 per share, with revenue coming in between $298 million and $318 million. Analysts were expecting the company to earn $1.74 per share on revenue of $299.1 million, according to a poll by Thomson Reuters.
In the fiscal fourth quarter, WD-40 Co. weighed in with net income that jumped 64% to $7.6 million, or 46 cents per share, on revenue that rose 1% to $77.8 million, when compared to the year-ago quarter.
Analysts were expecting adjusted earnings of 40 cents per share on revenue of $71.7 million.
Shares of WD-40 rose $1.97 or 6.19% in after-hours trading to $33.80 per share.
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