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News Breaks
July 11, 2014
16:07 EDTZEPZep Inc. agrees to $905K penalty to resolve EPA claims
Zep Inc. disclosed in a regulatory filing that the company was served with a final, executed copy of a consent order between the company and the U.S. Environmental Protection Agency. Pursuant to the order, the company agreed to pay, on or before August 7, a civil penalty in the amount of $905K to resolve the EPA’s allegations that the company’s subsidiary sold an unregistered pesticide, sold a misbranded pesticide, and submitted false compliance certification statements to the EPA. "The company neither admits nor denies the EPA’s factual allegations and legal conclusions as set forth in the Consent Order. It agreed to the Consent Order to avoid the expense of litigation," Zep stated. The company recorded a charge against its earnings in 4Q13 in the amount of $250K with respect to this matter. The remaining $655K was recorded as a charge against its earnings in 3Q14.
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July 11, 2014
16:07 EDTZEPZep Inc. agrees to $905K penalty to resolve EPA claims
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July 10, 2014
16:06 EDTZEPZep says fire-related sales losses may prompt revenue declines
The company said, "We are making excellent progress on our business continuity plan execution as we recover from the incident at our aerosol production facility, but realize this will create some uncertainty with respect to our future operational and financial results. We are communicating with our customers and working to minimize disruptions in the supply of aerosol products. We continue to believe our insurance will cover the majority of the costs associated with this incident, including business interruption; however we expect the timing of expenditures and insurance recovery to be misaligned. While we are encouraged by recent sales results, we believe that continuing sales pipeline success may only partially offset the fire-related sales losses potentially resulting in revenue declines in some or all of the next four quarters. We invested in a number of initiatives over the past year that started to deliver results in the most recent quarter. Had it not been for the incident, we expected these initiatives to continue to gain traction in the fourth quarter and beyond. However, we are now focused on implementing our business continuity plan with an eye on mitigating the impact of disruption, and believe that the returns on recent investments may be delayed as we manage through the recovery period.”
16:03 EDTZEPZep Inc. reports Q3 adjusted EPS 30c, consensus 39c
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15:13 EDTZEPNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include PriceSmart (PSMT), consensus 69c; Barracuda Networks (CUDA), consensus 3c; Zep, Inc. (ZEP), consensus 39c; VOXX (VOXX), consensus 6c; Joe's Jeans (JOEZ), consensus (3c); Ceres (CERE), one estimate (32c).

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