New Products Help Boost Armor All’s Bottom Line by 8% for Year

Armor All Products Corp., buoyed by new home care and car care products, reported an 8% increase in net income and record revenue for its fiscal year, which ended March 31.

The Aliso Viejo company earned $24.5 million, or $1.16 a share, compared with earnings of $22.6 million, or $1.07 a share, for the prior year. Revenue rose 19% to $216.8 million for its fiscal year from $182.3 million.

Armor All’s profit for the fourth quarter rose 2% to $9.7 million, or 46 cents a share, from the prior year’s final quarter earnings of $9.5 million, or 45 cents a share. Quarterly revenue grew 23% to $79.8 million from the $64.9 million last year.

The company said earnings were affected by the costs of launching its new products and by a one-time, pretax charge of $1 million resulting from a retail product replacement program on aerosol units of its wheel cleaner.