Zep Reports Q2 EPS of $0.15 vs. $0.15; Revenues $146.8M vs. $146.2M

Zep Inc. ZEP today announced financial results for the three month period ended February 28, 2011. Revenue for the second quarter of fiscal 2011 increased approximately 15% to $146.8 million, compared with $127.4 million in the same period of the prior year. Earnings before interest, income tax, depreciation, and amortization expenses and excluding restructuring, special items, and acquisition-related expenses (adjusted EBITDA) totaled $9.9 million, an increase of $4.3 million or 76% from the second quarter of fiscal 2010. During the second quarter of fiscal 2011, adjusted net income was $3.3 million, or $0.15 per diluted share, an increase of $1.3 million or $0.06 per diluted share from the same prior year period.