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Zep Inc. (NYSE: ZEP), Atlanta, GA, a consumable chemical packaged goods company that manufactures high-performance maintenance and cleaning chemicals, reported sales for the fiscal year ended Aug. 31 of $696.5 million, up 1 percent over the prior year. Profit was $8.4 million, compared to $15.2 million the prior year.
Results were negatively impacted as the company continued to recover from a fire at its aerosol manufacturing facility in Marietta, GA.
In the fourth quarter, sales were $186.8 million. Profit grew 44 percent to $3.8 million.
“This quarter we continued the organic sales growth trends achieved earlier in the year while also recovering from the fire,” said John K. Morgan, president and CEO. “We grew sales approximately 3 percent, excluding the effects of the fire, and reduced net debt by $16 million.”