Boca Raton, Fla.-based Q.E.P. Co. says fourth quarter sales rose 4.8 percent, thereby logging a profit compared to the same time last year. However, the year-end number remained in the red. The specialty tools and flooring-related products maker, marketer and distributor said it earned $458,000, or 13 cents a share, on sales of $53.3 million for the period. For the fourth quarter the year before, Q.E.P. said it lost $1.6 million, or 47 cents a share, on sales of $50.8 million.
the year, the company said it lost $5.5 million, or $1.64 a share, on sales of
$216 million. The year before, Q.E.P. said it earned $998,000, or 26 cents a
share, on sales of $206.2 million.
Gould, Q.E.P. chairman and chief executive officer, said business conditions
continued to be challenging.
the current first quarter of fiscal 2008 has not been completed, initial
indications are for positive results,” he said.
the fourth quarter, Q.E.P. said it generated $2.4 million of cash from
operations, up from $100,000 in the fourth quarter the year before.
the company said it generated $4.9 million of cash from operations, up from
$1.8 million the year before.