WD-40 Company reported unaudited consolidated earnings results for the first quarter ended November 30, 2013. For the period, the company reported net sales of $95,541,000 against $95,264,000 for the same period in the last year. Income from operations was $16,767,000 against $15,865,000 for the same period in the last year. Income before income taxes was $16,469,000 against $15,854,000 for the same period in the last year. Net income was $11,482,000 or $0.74 per diluted share against $10,944,000 or $0.69 per diluted share for the same period in the last year. Net cash provided by operating activities was $6,709,000 against $15,595,000 for the same period in the last year. Purchases of property and equipment were $1,186,000 against $527,000 for the same period in the last year.

The company provided earnings guidance for the fiscal 2014. The company expects fiscal year 2014 net sales of $383 million to $398 million and net income of $40.5 million to $42.8 million. The company expects diluted earnings per share of $2.65 to $2.80 based on an estimated 15.3 million weighted average shares outstanding. Gross margin for the full year is expected to be close to 51%. This guidance does not include any acquisitions or divestitures, and assumes that foreign currency exchange rates will remain close to 2013 levels.