WD-40 Company reported unaudited consolidated earnings results for the first quarter ended November 30, 2015. For the quarter, the company reported net sales of $92.522 million compared to $96.353 million a year ago. Income from operations was of $17.145 million compared to $15.593 million a year ago. Income before income taxes was of $16.870 million compared to $15.535 million a year ago. Net income was $12.062 million or $0.83 per diluted share compared to $10.786 million or $0.73 per diluted share a year ago. Net cash provided by operating activities was $14.645 million compared to $9.398 million a year ago. Purchases of property and equipment were of $0.448 million compared to $1.582 million a year ago.

The Company updated its guidance for fiscal year 2016. Net sales growth is projected to be between 4 and 6% with net sales expected to be between $393 million and $401 million. Gross margin for the full year is expected to be above 54%. Net income is projected to be between $47.5 million and $48.5 million. Diluted earnings per share is expected to be between $3.30 and $3.37 based on an estimated 14.4 million weighted average shares outstanding. The company expects CapEx in the range of $6 million to $7 million.