This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Q.E.P. Co., Inc. Reports Fiscal 2014 First Quarter Sales And Earnings

Record Quarterly Sales – $83.4 Million

Quarterly Net Income – $5.1 Million

BOCA RATON, Fla., June 27, 2013 (GLOBE NEWSWIRE) -- Q.E.P. CO., INC. (OTC:QEPC.PK) (the "Company") today reported its consolidated results of operations for the first quarter of its fiscal year ending February 28, 2014.

The Company reported record net sales of $83.4 million for the three months ended May 31, 2013, an increase of $13.6 million or 19.4% from the $69.8 million reported in the same period of fiscal 2013. As a percentage of net sales, gross profit was 28.4% in the first three months of fiscal 2014 compared to 28.9% in the first three months of fiscal 2013.

Lewis Gould, Chairman of the Company's Board of Directors, commented: "Sales continue to grow quarter over quarter reflecting the positive contribution of our recent acquisitions as well as modest growth in our core operations in spite of challenging market conditions. With an eye on building net asset value for the long-term, we are continuing to target strategic acquisitions that expand our sales and earnings base. The acquisition of Homelux at the beginning of this fiscal quarter certainly contributed to that objective." Mr. Gould concluded that: "With a focus on further optimizing cash flow, working capital and shareholder value, during the first quarter of the current fiscal year we also completed a sale and leaseback of a facility in Canada and used the cash proceeds to pay down debt."

The growth in net sales for the quarter as compared to the fiscal year 2013 first quarter principally reflects the contribution of both North American and European acquisitions completed during the past twelve months. Excluding acquisitions, net sales increased 3.3% quarter over quarter due to modest sales growth in both North America and certain international operations partially offset by the effects of competitive pricing pressures in North America and, to a lesser degree, international markets.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs