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Recent acquisitions help financial boost.
July 2, 2013
By: TOM BRANNA
Editor
Zep Inc. reported financial results for the three-month period ended May 31, 2013. Net sales grew 5.3% to $186.0 million. “Our third quarter provided mixed financial results. I am very pleased that free cash flow generated in the quarter was an impressive 260% of net income. I am however, very disappointed in our lower earnings per share, even recognizing that more than half of the decline was occasioned by our planned inventory reduction,” said John K. Morgan, chairman, president and chief ex...
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