Posted April 8, 2010
Zep's sales rise 11.1%
Zep Inc. reported net sales of $127.4 million in Q2 fiscal 2010 compared with $114.6 million in the same quarter last year, an increase of 11.1%.
Revenues recognized in January and February from the Amrep acquisition accounted for $17.8 million of the current quarter's net sales. Excluding Amrep revenues, weak demand across the majority of the company's end-markets resulted in $8.1 million of volume declines. Adjusted gross profit increased $1.8 million, or 3.0%, to $60.5 million in the second quarter of fiscal 2010 compared with $58.7 million in the second quarter of fiscal 2009.
Zep is an Atlanta-based producer, marketer, and service provider of a wide range of cleaning and maintenance solutions.
