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WD-40 Company Q2 Profit Up 7%

WD-40 Company (WDFC), Tuesday reported second-quarter profit of $15.9 million or $1.14 per share, up from $14.8 million or $1.05 per share last year.

Sales for the second quarter were $101.3 million, relatively constant compared to the prior year fiscal quarter.

Looking forward to full year 2019, the company reaffirmed its guidance of sales of $425 million to $437 million and earnings of $4.51 and $4.58 per share.

"We believe we are going to end the year in-line with our previously issued guidance and are reaffirming guidance today," said Jay Rembolt, WD-40 Company's vice president and chief financial officer. "We expect our net sales may ultimately be at the lower end of the range we've shared with investors. However, gross margin has shown a slight positive trend in recent weeks. All our current indicators show that the back half of the fiscal year should be solid."

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