The 2020 Mid-Year Economic Update_long

Cleaning Product Supplier Zep Sales Up 5% in 1Q

Industrial cleaning product supplier Zep Inc., Atlanta, GA, reported sales in the first quarter ended Nov. 30, 2007, were $143.6 million, up 4.9%. Profit was $6.3 million.
 
During the current year's first quarter, the cost of commodities utilized in manufacturing continued to increase, and Zep management anticipates higher commodity costs in coming quarters.
 
These increases in material costs are expected to be offset by higher selling prices.
 
We anticipate revenue growth with the continued focus on growing our core business through our Zep Sales &Service organization and increased market share through our entrance into the $6.4 billion industrial distribution channel. One of our goals is that within three years, distributor channels will become ...

Industrial cleaning product supplier Zep Inc., Atlanta, GA, reported sales in the first quarter ended Nov. 30, 2007, were $143.6 million, up 4.9%. Profit was $6.3 million.
 
During the current year’s first quarter, the cost of commodities utilized in manufacturing continued to increase, and Zep management anticipates higher commodity costs in coming quarters.
 
These increases in material costs are expected to be offset by higher selling prices.
 
We anticipate revenue growth with the continued focus on growing our core business through our Zep Sales &Service organization and increased market share through our entrance into the $6.4 billion industrial distribution channel. One of our goals is that within three years, distributor channels will become 10-15% of our total revenues,”said John K. Morgan, president and CEO.

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