Will Porter joins BlueTarp Financial as new CFO
Portland, Maine-based BlueTarp Financial named Will Porter as its new chief financial officer.
Porter brings more than 18 years of experience working with both public and private companies. Most recently, he served as the CFO at Signiant, a global software provider focusing on the transferring of digital files. Previously, Porter was the VP finance at Phase Forward, a data management solutions provider.
“Will has a successful track record of working with companies in high-growth environments,” said Scott Simpson, CEO of BlueTarp. “His financial, accounting and operational experiences will be invaluable for BlueTarp as we continue to increase our presence across the United States.”
The Boston-area native is a graduate of the Isenberg School of Management at the University of Massachusetts Amherst. He currently resides in Walpole, Mass.
Newell Rubbermaid exec joins Aaron’s
Andrea Freeman, the former VP marketing and brand management at Newell Rubbermaid, has joined Aaron’s, the rent-to-own retailer, as VP marketing. Freeman will report directly to Aaron’s chairman, president and CEO Ronald Allen and be responsible for marketing strategy and implementation, marketing communications, research and planning, business development, and coordination with sales and other business partners on strategic initiatives.
In addition to her experience at Newell Rubbermaid, Freeman’s background includes a 10-year stint with the Coca-Cola Co.
"As a multifaceted brand, Aaron’s marketing covers a wide spectrum including sports, community outreach, military support, store growth and franchising,” said Allen. "We have been seeking an individual with the knowledge and experience to handle the intricacies of all these areas, and [Freeman] fits the bill perfectly. She has an extensive background with national consumer brands, and we are confident her expertise in innovation will lead Aaron’s in exciting new directions for 2013."
Aarons’ operates 2,050 locations and specializes in the sales and lease ownership of residential furniture, consumer electronics, home appliances and accessories.
Sales rise in WD-40’s first quarter
Lubricant maker WD-40 Co. reported net sales of $95.3 million for its first fiscal quarter 2013, an increase of 12% from the same quarter last year. Net income for the first quarter, which ended Nov. 30, 2012, was $10.9 million, an increase of 61% compared with the prior-year fiscal quarter.
Sales in the first quarter for WD-40’s multi-purpose maintenance products, which include the WD-40 multi-use product, 3-in-One, Blue Works and the WD-40 Specialist product lines, rose 15% year over year. Homecare and cleaning products sales were down 4% from the first quarter in the previous year. The U.S. homecare and cleaning products are considered harvest brands, providing healthy profit returns to the company and are becoming a smaller part of the business as the multi-purpose maintenance products sales grow, the company said.
Net sales by segment as a percent of total net sales were 48% from the Americas, 37% from Europe and 15% from Asia-Pacific.
"We are pleased with our solid revenue growth during the first quarter, particularly in our multi-purpose maintenance products, and because we were able to hit our goal of a 50% gross margin, we achieved solid growth in our net income as well," said Garry Ridge, president and CEO of WD-40. "We have remained disciplined in building our business for long-term, sustainable growth by implementing our core strategic drivers, and the results of the first quarter show a solid start to the year. In fact, the first quarter of 2013 was the best sales quarter in company history."
The San Diego-based company expects fiscal year 2013 net sales of $356.0 million to $370.0 million. Net income is projected at $36.5 million to $38.0 million. The company expects advertising and promotion expenses of 7% to 8% of net sales.