Hyde Group promotes Scoble
The Hyde Group has promoted Robert Scoble to a new key role as president of Hyde Group.
Scoble will be responsible for all the Hyde Group companies, which are Hyde Tools and Industrial Blade Solutions, of Southbridge, Massachusetts, and A. Richard Tools of Canada.
After more than 20 years of leadership in other privately held companies, Scoble joined the Hyde Group in 2005 as VP sales and marketing for Hyde Tools. In 2009, he was named executive VP and was tapped as president of Hyde Tools in 2010. As president of the Hyde Group, he will provide important executive leadership and facilitate the continued growth of all three brands throughout North America and worldwide.
Scoble reports to Richard Clemence, CEO of the Hyde Group.
Hyde Group grew from its early start as a shoe knife manufacturer into a leading provider of surface preparation hand tools, paint applicators and industrial knives.
WD-40 posts record-breaking quarter
According to WD-40 Company president and CEO Garry Ridge, the fourth quarter of 2014 had its ups and downs. However, it marked the best quarter in history for the company in terms of revenue.
"We had a good quarter and a good year and are pleased we have been able to maintain sustainable growth across our core business globally," said Ridge. "While we saw both positive and negative impacts from changes in foreign currency exchange rates, we had local currency growth across key markets and the fourth quarter was our highest revenue quarter in history."
Sales for the quarter ended Aug. 31 were $97.6 million, up 4% since last year’s fourth quarter. Net income for the three-month period was $11.5 million, up 42% year-over-year.
Total net sales for the fiscal year were $383.0 million, also up 4% from last year. For the year, that number was $43.7 million, up 10% from the prior fiscal year.
Ridge added that the company’s focus remained on growing its core business of multi-purpose maintenance products.
Net sales for this category grew 5% in both the fourth quarter and the full fiscal year, an increase that the company attributes primarily to the expansion of the WD-40 Specialist line, as well as growth sales in the EMEA and Asia-Pacific regions.