Shares of household and multi-use products maker WD-40 Company (WDFC) are down more than 12% Friday morning after the company reported third quarter results, lower than last year.
Net income for the third quarter was $14.5 million, a decrease of 31 percent compared to last year.Earnings per share also declined to $1.07 from $1.52 per share a year ago.
Sales for the quarter dropped 9% to $123.7 million from the prior- year quarter.
"In the third quarter we were up against very strong sales comparisons and had to manage through several global disruptions that negatively impacted our current quarter sales results," said Garry Ridge, WD-40 Company's chairman and chief executive officer.
WDFC is at $179.54 currently. It has traded in the range of $170.01-$279.98 in the last 1 year.
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