 |
Lock in savings now before June 1 rate increase! |
 |
Zep Inc., Atlanta, GA, a producer, marketer, and service provider of cleaning and maintenance solutions, reported sales
of $123 million for the third quarter ended May 31, 2009, down 15.3% from the prior year. Profit improved
to $5.4 million from $168,000 for third quarter of fiscal year 2008; third quarter 2008's results included
restructuring and special charges of $5.9 million.
For this first nine months, sales were $366.7
million, down 13.1%. Profit declined 65.1% to $2.9 million.
Weak customer demand across a number
of end-markets and high raw material costs negatively impacted the overall results.
"However,
our restructuring and cost reduction measures have gained additional traction, and our third quarter gross profit
margin exceeded that of the second quarter by 2.7 ...
Zep Inc., Atlanta, GA, a producer, marketer, and service provider of cleaning and maintenance solutions, reported sales
of $123 million for the third quarter ended May 31, 2009, down 15.3% from the prior year. Profit improved
to $5.4 million from $168,000 for third quarter of fiscal year 2008; third quarter 2008's results included
restructuring and special charges of $5.9 million.
For this first nine months, sales were
$366.7 million, down 13.1%. Profit declined 65.1% to $2.9 million.
Weak customer demand across
a number of end-markets and high raw material costs negatively impacted the overall results.
"However, our restructuring and cost reduction measures have gained additional traction, and our third quarter gross
profit margin exceeded that of the second quarter by 2.7 percentage points," said John K. Morgan,
president and CEO. "Absent significant further deterioration in current economic conditions, we
expect profitability in all four quarters of our next fiscal year and believe we are well positioned
for an eventual economic rebound."
Zep has consolidated five branches in the last 90
days and expects to consolidate another four branches before the conclusion of the calendar year.
 |
 Download
the Top 40 Industrial List -FREE |
| View the Top Distributors in 12 Sectors: | |
| 2011 Distribution Landscape Report: Access Now | |
Join MDM's Independent Distributor
Network 
Follow MDM on Twitter
 Critical Profit Driversin Distribution Al Bates, Profit Planning Group, speaks frankly about the most important factors to driving profit. Watch now. iPad users: click here to view. |
 Economic Update:Behind the Moderation MAPI Economist Cliff Waldman discusses some of the factors behind the slowing economic recovery. Watch now. |
 7 Minutes With ...Bell Electrical Supply CEO Burt Schraga discusses the importance of building a strong culture in his organization. Watch now. |
More Audio and Video Features from MDM: |
Think About It: |
|
Training Resources
 |
 |
 |
 |
|||
|
Featured Article: What AmazonSupply.com Means for Independent Distributors $34.95 |
Inventory Management Best Practices with Jon Schreibfeder: DVD + Book $119.00 |
The State of E-Commerce and Catalogs in Distribution $44.95 |
Benchmarks & Best Practices: The Answer Book for Growth-Minded CFOs & Controllers $249.00 |
| Title | Company | Location |
|---|---|---|
| Digital Strategy Manager | Border States Electric | Fargo North Dakota |
| Risk Manager | Border States Electric | Fargo ND |
| Purchasing Manager | PCA SKIN | Scottsdale, AZ |
| BUSINESS DEVELOPMENT MANAGER | Graybar Electric Company | Denver, CO |
| INDUSTRIAL OUTSIDE SALES REPRESENTATIVE | Graybar Electric Company | Phoenix, AZ |
| General Manager | Applied Industrial Technologies | Norfolk, VA |
| Rubber Specialist | Applied Industrial Technologies | Baltimore, MD |
| View ALL Wholesale Distribution Job Listings |
|
|
 |
|
|
|
 |
Leave a Comment