WD-40 Rises After Q2 Results

Shares of WD-40

were rising in Thursday's after hours trading session after the company released its fiscal second-quarter earnings results after the closing bell. At last check, the stock had climbed around 6 percent to $56.00. The company said that its net income fell to $10.46 million or $0.66 per share, compared to $10.58 million or $0.65 per share, in last year's corresponding period. This easily beat analysts' consensus EPS estimates of $0.56. Sales for the quarter were $86.71 million, a 1 percent increase from $86.0 million last year. This came in below Wall Street analysts consensus sales estimates of $87.37 million. Looking ahead to fiscal 2013, WD-40 said that it now expects earnings per share of $2.32 to $2.42. This is above its previous EPS guidance calling for EPS of $2.31 to $2.40 for the fiscal year. Sales for the full-year are still projected to be between $356.0 million and $370.0 million. This compares to current analysts' consensus EPS estimates of $2.37 on revenue of $358.17 million.