Atlanta-based Zep Inc., a producer of cleaning and maintenance products, reported sales of $145.2 million for the third quarter ended May 31, 2008, down slightly from $145.4 million in the previous year. Profit was $0.2 million, down 94% from third quarter 2007.
Excluding charges for restructuring and special items, Zep had an adjusted profit of $6 million, down 4.8% from the adjusted profit the previous year.
The decline was attributed to higher raw material costs, increased stand-alone public company expenses and investments related to ongoing strategic initiatives.
For the nine months ended May 31, 2008, profit was $8.4 million, up 21.2% over the prior year. Zep reported sales of $421.9 million in the first nine months of fiscal year 2008, an …
Zep Reports 3Q Sales Down Slightly
Atlanta-based Zep Inc., a producer of cleaning and maintenance products, reported sales of $145.2 million for the third quarter ended May 31, 2008, down slightly from $145.4 million in the previous year. Profit was $0.2 million, down 94% from third quarter 2007.
Excluding charges for restructuring and special items, Zep had an adjusted profit of $6 million, down 4.8% from the adjusted profit the previous year.
The decline was attributed to higher raw material costs, increased stand-alone public company expenses and investments related to ongoing strategic initiatives.
For the nine months ended May 31, 2008, profit was $8.4 million, up 21.2% over the prior year. Zep reported sales of $421.9 million in the first nine months of fiscal year 2008, an …
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