Zep Q1 Profit Advances, Ups Full Year Revenue View - Quick Facts

(RTTNews) - Zep Inc. (ZEP), a consumable chemical packaged goods company, Tuesday said first-quarter net income advanced to $ 3.14 million from the previous year's $3.1 million. Earnings per share were flat with last year at $0.14.

Adjusted earnings per share were $0.17, and adjusted cash earnings per share totaled $0.26. On average, three analysts polled by Thomson Reuters expected earnings of $0.14 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales grew to $168.29 million from last year's $164.89 million. Analysts expected revenues of $163.25 million.

John Morgan, Chairman, President and CEO, said, "Our first fiscal quarter success was driven by our shift into strategic end-markets with favorable trends, the success of our sales pipeline process and the quality and speed of our fire-recovery effort."

"Our success with these and other actions taken during the quarter have mitigated a number of risks and allow me to increase our revenue guidance for the full year. We now expect low-single digit net sales growth for fiscal 2015 compared to our previous expectation of flat net sales," Morgan added.