WD-40 Company reported unaudited consolidated earnings results for the first quarter ended November 30, 2014. For the period, the company reported net sales of $96,353,000 against $95,541,000 for the same period in the last year. Income from operations was $15,593,000 against $16,767,000 for the same period in the last year. Income before income taxes was $15,535,000 against $16,469,000 for the same period in the last year. Net income was $10,786,000 or $0.73 per diluted share against $11,482,000 or $0.74 per diluted share for the same period in the last year. Net cash provided by operating activities was $9,398,000 against $6,709,000 for the same period in the last year. Purchases of property and equipment were $1,582,000 against $1,186,000 for the same period in the last year. The sales growth of the WD-40 Multi-Use Product that experienced in the Americas and Asia-Pacific was entirely offset by a decline in EMEA, primarily due to the unfavorable impacts of foreign currency and a decline in orders following a heavy promotional period in the fourth quarter of last fiscal year.

For 2015, the company expects net income between $45.1 million and $46.4 million, which would achieve a diluted EPS of between $3.07 and $3.16, assuming 14.7 million weighted average shares outstanding. This guidance does not include any future acquisitions or divestiture activity; the company expects global fiscal year sales to be in the range of $398 million to $430 million and that's a growth of between 4% and 8%. The company projects gross margin to be better than 52% and EBITDA to be above 20% of net sales. That's a slight upward revision from last quarter guidance.