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Zep Inc. (NYSE: ZEP), Atlanta, GA, a manufacturer of cleaning and maintenance products, reported sales for the fourth quarter ended Aug. 31, 2012, of $171.7 million, a 1.2 percent decrease from the fourth quarter of fiscal 2011. Profit increased 78.8 percent to $7.3 million.
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For the full year, sales were $653.5 million, a 1.1 percent increase over the same period a year ago. Sales growth for the year reflects benefits from acquisitions and pricing, partially offset by a decline in organic sales. Profit increased 26 percent to $21.9 million.
“We have expanded our business to channels that were not previously available to us,” said John K. Morgan, chairman, president and CEO. “Importantly, the investments we made in the market-facing capabilities of each of these channels resulted in organic growth for those platforms, and half of our top 20 customers are new customers of the company within the past three years as a result of these investments.”