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WD-40 profit misses consensus by 17.1% in fiscal Q1

WD-40 Co. said its normalized net income for the fiscal first quarter ended Nov. 30, 2014, amounted to 66 cents per share, compared with the S&P Capital IQ consensus estimate of 80 cents per share.

EPS declined year over year from 67 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $9.7 million, a decline of 5.7% from $10.3 million in the year-earlier period.

The normalized profit margin dropped to 10.1% from 10.8% in the year-earlier period.

Total revenue came to $96.4 million, compared with $95.5 million in the year-earlier period, and total operating expenses grew on an annual basis to $80.8 million from $78.8 million.

Reported net income fell 5.4% on an annual basis to $10.8 million, or 73 cents per share, from $11.4 million, or 74 cents per share.