WD-40 Co. Q3 Profit Rises; Lifts FY14 EPS Outlook - Quick Facts

(RTTNews) - WD-40 Company (WDFC) Tuesday reported third-quarter profit of $10.4 million or $0.69 per share, compared to $10.3 million or $0.66 per share in the comparable quarter last year.

On average, four analysts polled by Thomson Reuters expected the company to earn $0.72 per share for the quarter. Analysts' estimates typically exclude special items.

Sales increased 3% to $95.65 million from $93.10 million last year, while three analysts expected revenues of $99.16 million.

Looking ahead, the company now expects full-year 2014 earnings to be in the range of $2.70 to $2.83 per share, with revenues in the order of $380 million to $387 million. Analysts now expect the company to report full-year earnings of $2.75 per share on revenues of $387.44 million.

Earlier, the company expected earnings in the order of $2.65 to $2.80 per share, with revenues in the range of $383 million to $398 million.

As previously announced, WD-40 company's board of directors declared on Tuesday, June 24, 2014 the regular quarterly cash dividend $0.34 per share payable on July 31, 2014 to shareholders of record on July 11, 2014.

On June 18, 2013, the board of directors approved a share buy-back plan, which authorizes the company to acquire up to $60.0 million of its outstanding shares effective from August 1, 2013 through August 31, 2015. During the third quarter of fiscal year 2014, WD-40 company acquired $8.2 million in shares under this plan.