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.
For
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.
Lewis
Gould, Q.E.P. chairman and chief executive officer, said business conditions
continued to be challenging.
“Although
the current first quarter of fiscal 2008 has not been completed, initial
indications are for positive results,” he said.
For
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.
Overall,
the company said it generated $4.9 million of cash from operations, up from
$1.8 million the year before.
This website stores data such as cookies to enable important site functionality including analytics, targeting, and personalization. View our privacy policy.
Report Abusive Comment