Posted June 29, 2010
Zep earnings and sales increase
Zep Inc. reported Q3 net income of $5.2 million, based on sales of $153.0 million.
That compares to earnings of $5.4 million on $123.0 million in sales in the third quarter of fiscal 2009, an increase of $30.1 million or 24.4%.
"This level of performance is a result of operating initiatives implemented last year to reduce costs and improve productivity, and the acquisition of Amrep, which saw strong sales performance across all channels and continued to positively impact our operating results," said John K. Morgan, chairman, president and chief executive officer.
Acquisition-related revenues comprised $29.3 million of the current quarter's net sales.
