Armor All Products Corp., an Irvine car-care...
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Armor All Products Corp., an Irvine car-care products maker, reported earnings of $27.1 million for its fiscal year ended March 31, a 22% increase from $22.3 million the previous year. Revenue increased 29% to $162.8 million from $126.4 million. For the company’s fourth quarter, earnings increased 18% to $10 million, compared to $8.5 million, with revenue up 32% to $62 million from $47 million. The results included sales of products acquired from Borden Inc. in September. Armor All paid about $27 million for Borden’s car-care products division, which included the Rain Dance and Rally car waxes. Armor All President Jeffrey Sherman said in a prepared statement that the new products resulted in slightly reduced profit margins. Also during the year, Armor All introduced its own car wax product line to supplement sales of its primary product, Armor All Protectant.
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