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Zep 3Q Sales Up 24.4%

Zep Inc. (NYSE: ZEP), Atlanta, GA, reported sales for the third quarter ended May 31, 2010, were $153 million, a 24.4 percent increase over the prior year period. Profit declined 3.7 percent to $5.2 million. Acquisition-related revenues, primarily a result of the Amrep acquisition, comprised $29.3 million of the current quarter's sales.

For the first nine months of fiscal 2010, sales were $407.1 million, up 11 percent from a year ago. Profit was $11.4 million, compared to $2.9 million for the first nine months of fiscal 2009.

"Even though some of the macro-economic indicators have improved or stabilized, demand remains soft across a number of our end-markets," said John K. Morgan, president and CEO.

Zep Inc. is a manufacturer of cleaning and maintenance products for commercial, industrial, institutional, and consumer end-markets.

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