WD-40 (NASDAQ:WDFC) has fallen 3% in late trading after a miss with its fiscal Q3 revenues.
Sales rose 4% but were 2.9% below analyst expectations; YTD sales are down 1%, to $283.5M.
Forex had an impact, as sales would have been $99.2M in constant currency. Net income rose 16% Y/Y.
Gross margin was 56.8%, up from a year-ago 53.3%, reflecting "the lowest oil costs we've seen in well over a decade."
Sales by product group: Maintenance products, $86.6M (up 6%); Homecare and cleaning products, $9.9M (down 10%).
The company made a Brexit-related update to fiscal 2016 guidance, accounting for new forex rates: Net sales are expected to grow slightly to $378M-$383M (below consensus expectations for $385.9M) and diluted EPS of $3.40-$3.47 (vs. consensus for $3.46).