Zep fiscal 1Q profit falls 3 pct on expenses
by Associated Press Wire
January 07, 2013 11:20 AM | 877 views | 0 0 comments | 7 7 recommendations | email to a friend | print
ATLANTA — Zep Inc., which makes cleaners, pest and weed control products and disinfectants, said Monday that its fiscal first-quarter net income fell 3 percent, pulled down by acquisition and integration costs.

For the quarter ending Nov. 30, Zep earned $3.5 million, or 16 cents per share, down from $3.6 million in the same quarter last year. The recent quarter’s results were based on 22.2 million outstanding shares while the year-ago period’s were based on 22 million.

Analysts, on average, expected earnings of 17 cents per share, according to a FactSet poll.

Revenue rose 3 percent to $158 million from $153.5 million, helped by strong automotive aftermarket and home improvement retail sales. Acquisitions added about $3.5 million in sales.

The recent quarter included after-tax integration and acquisition expenses of $800,000, or 4 cents per share, while the year-ago quarter included none.

Its shares rose 21 cents, or 1.4 percent, to $15.14 in morning trading. They have traded in a 52-week range of $11.87 to $17.96 in morning trading.
Comments-icon Post a Comment
No Comments Yet
*We welcome your comments on the stories and issues of the day and seek to provide a forum for the community to voice opinions. All comments are subject to moderator approval before being made visible on the website but are not edited. The use of profanity, obscene and vulgar language, hate speech, and racial slurs is strictly prohibited. Advertisements, promotions, and spam will also be rejected. Please read our terms of service for full guides