Zep (ZEP) Reports In-Line Q3 EPS; Updates on Sales Litigation
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Price: $20.04 --0%
Financial Fact:
Restructuring Charges: 578K
Today's EPS Names:
MSGM, SMID, VISL, More
Financial Fact:
Restructuring Charges: 578K
Today's EPS Names:
MSGM, SMID, VISL, More
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Zep (NYSE: ZEP) reported Q3 EPS of $0.32, in-line with the analyst estimate of $0.32. Revenue for the quarter came in at $168 million versus the consensus estimate of $164.25 million.
The Company also reported that it is a defendant in a lawsuit filed by two of its sales representatives alleging that a subsidiary of the company failed to reimburse current and former California sales representatives for work-related expenses and failed to pay wages by assessing unlawful deductions from commissions. The Company believes that it has substantial factual and legal defenses to the claims made in the lawsuit and intends to assert these defenses aggressively.
The Company also reported that it is a defendant in a lawsuit filed by two of its sales representatives alleging that a subsidiary of the company failed to reimburse current and former California sales representatives for work-related expenses and failed to pay wages by assessing unlawful deductions from commissions. The Company believes that it has substantial factual and legal defenses to the claims made in the lawsuit and intends to assert these defenses aggressively.
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