Zep Inc. (ZEP), a consumable packaged goods company, said its second-quarter net income rose to $2.79 million, or $0.12 per share, from $2.43 million, or $0.11 per share, in the second fiscal quarter of 2012. On average, 4 analysts polled by Thomson Reuters expected earnings per share of $0.11 for the quarter. Analysts' estimates typically exclude one-time items.
Revenue in the latest quarter totaled $163.39 million, up 7.7% from the prior year's $151.72 million, while three analysts projected revenue of $167.06 million for the period.
According to the company, quarterly results reflected sales growth in retail, which were again driven by automotive aftermarket and by sales to new retailers, while its distribution channel again drove growth with industrial/MRO customers. Further, acquisitions added about $17.4 million to net sales in the quarter.
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