Zep Inc., a manufacturer of a wide variety of high-performance maintenance and cleaning chemicals for the automotive and MRO/industrial markets, today reported 2nd sales of 163.4 million, a 7.7% increase from the second fiscal quarter of 2012.
Second quarter results reflected sales growth in retail, which were again driven by automotive aftermarket and by sales to new retailers, while Zep’s distribution channel again drove growth with industrial/MRO customers. In addition, acquisitions added approximately $17.4 million to net sales during the quarter.
Net income for the second quarter was $2.8 million, a 14.7% increase compared to net income of $2.4 million in the second fiscal quarter last year.
"We are very pleased with our second quarter results," said John K. Morgan, Chairman, President and Chief Executive Officer of Zep Inc. "In the near term, we will continue to focus on the integration of Zep Vehicle Care, optimize our recent SAP implementation and utilize free cash flow to reduce debt."
