WDFC FY 2010 Earnings Report — WD-40 Company Revenue & Financial Results | Market Cap Arena

WD-40 CompanyWDFC

FY 2010 Earnings

Reported October 18, 2010

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$322M	—	$292M	—	10.1%
Op. Income	$55M	—	$40M	—	38.5%
Gross Margin	51.4%	—	49.5%	—	1.9pp
Net Margin	11.2%	—	9.0%	—	2.2pp
EPS (Diluted)	$2.15	—	$1.58	—	36.1%
Free Cash Flow	$55M	—	$32M	—	72.8%

Revenue Flow

Item	Amount
REVENUE	$322M
Cost of Revenue	$156M
GROSS PROFIT	$165M
R&D Expenses	$0
Selling & Marketing	$22M
General & Administrative	$87M
SG&A Expenses	$109M
Other Expenses	$724.0K
Operating Expenses	$110M
Cost & Expenses	$266M
OPERATING INCOME	$55M
Interest Income	$174.0K
Interest Expense	$2M
Other Income/Expenses	-$2M
INCOME BEFORE TAX	$54M
Income Tax Expense	$17M
Net Income from Continuing Ops	$36M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$36M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$36M
D&A	$4M
EBIT	$55M
EBITDA	$60M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$322M
Cost of Revenue	$156M
GROSS PROFIT	$165M
R&D Expenses	$0
Selling & Marketing	$22M
General & Administrative	$87M
SG&A Expenses	$109M
Other Expenses	$724.0K
Operating Expenses	$110M
Cost & Expenses	$266M
OPERATING INCOME	$55M
Interest Income	$174.0K
Interest Expense	$2M
Other Income/Expenses	-$2M
INCOME BEFORE TAX	$54M
Income Tax Expense	$17M
Net Income from Continuing Ops	$36M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$36M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$36M
D&A	$4M
EBIT	$55M
EBITDA	$60M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$36M
Depreciation & Amortization	$4M
Stock-Based Compensation	$3M
Deferred Income Tax	-$152.0K
Other Non-Cash Items	$767.0K
Change in Working Capital	$13M
OPERATING CASH FLOW	$56M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$216.0K
NET CASH FROM INVESTING	-$2M
Net Debt Issuance	-$11M
Common Stock Repurchased	$0
Common Dividends Paid	-$17M
Other Financing Activities	$224.0K
NET CASH FROM FINANCING	-$24M
FREE CASH FLOW	$55M
Net Change in Cash	$30M

Balance Sheet

Item	Amount
Cash & Equivalents	$76M
Short-Term Investments	$0
Net Receivables	$48M
Inventory	$13M
Other Current Assets	$14M
TOTAL CURRENT ASSETS	$150M
PP&E (Net)	$9M
Goodwill	$95M
Intangible Assets	$31M
Long-Term Investments	-$5M
Tax Assets	$5M
Other Non-Current Assets	$3M
TOTAL NON-CURRENT ASSETS	$139M
TOTAL ASSETS	$289M
Account Payables	$19M
Short-Term Debt	$11M
Deferred Revenue	$2M
Other Current Liabilities	$14M
TOTAL CURRENT LIABILITIES	$60M
Long-Term Debt	$11M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$17M
Other Non-Current Liabilities	$5M
TOTAL NON-CURRENT LIABILITIES	$33M
TOTAL LIABILITIES	$93M
Common Stock	$18.0K
Additional Paid-In Capital	$93M
Retained Earnings	$158M
Treasury Stock	-$50M
Accum. Other Comp. Income	-$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$197M
Minority Interest	$0
TOTAL EQUITY	$197M
TOTAL LIABILITIES & EQUITY	$289M
Total Debt	$21M
Net Debt	-$54M