Zep 2nd-quarter net income climbs, revenue rises
Zep 2nd-quarter net income climbs as automotive aftermarket sales improve
ATLANTA (AP) -- Zep Inc., which makes cleaners, pest and weed control products and disinfectants, said Tuesday that its second-quarter net income rose 17 percent, bolstered by automotive aftermarket sales and sales to new retailers.
For the three months ended Feb. 28, the Atlanta company earned $2.8 million, or 12 cents per share, up from $2.4 million, or 11 cents per share, a year ago.
Analysts predicted earnings of 11 cents per share, according to a FactSet survey.
Revenue climbed 8 percent to $163.4 million from $151.7 million, helped by acquisitions. Wall Street forecast $167.1 million in revenue.
Its shares finished at $15.06 on Monday. They have traded in a 52-wek range of $11.87 to $16.45.
