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  "documentTitle": "WD-40 Company (WDFC)",
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  "authorName": "Ben Axler",
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  "notes": "Uses red boxes to highlight specific line items in the income statement and corresponding percentage declines.",
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      "text": "It’s unclear what the CEO meant when he said its business was “sideways” during the last crisis. All of its key financial metrics declined by single digits.",
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      "text": "Net sales: -8%",
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      "text": "It's unclear what the CEO meant when he said its business was “sideways” during the last crisis. All of its key financial metrics declined by single digits. Today, its business is more levered and has greater international exposure. As a result, we expect a much larger impact to Company results.",
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      "kind": "source-note",
      "text": "Source: 2009 10-K",
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      "text": "WD-40 Company Consolidated Statements of Operations",
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      "text": "Reality From The Financial Crisis",
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