On December 28, 2017, the Board of Directors of Q.E.P. Co., Inc. declared a special dividend of $1.00 per share or approximately $3.2 million. The dividend will be payable on February 14, 2018 to shareholders of record as of the close of business on January 17, 2018.

The company reported unaudited consolidated earnings results for the third quarter and nine months ended November 30, 2017. For the quarter, the company reported net sales of $80,728,000 compared to $77,960,000 a year ago. $766,000 compared Operating income was to $3,421,000 a year ago. Income before provision for income taxes was $515,000 compared to $3,181,000 a year ago. Net income was $322,000 compared to $1,989,000 a year ago. Basic and diluted net income per share was $0.10 compared to $0.62 a year ago. Adjusted net income was $1,737,000 compared to $1,989,000 a year ago. Adjusted EBITDA was $3,994,000 compared to $4,401,000 a year ago. Basic and diluted adjusted net income per share was $0.54 compared to $0.62 a year ago.

For the nine months, the company reported net sales of $246,857,000 compared to $238,218,000 a year ago. Operating income was $8,772,000 compared to $11,055,000 a year ago. Income before provision for income taxes was $8,025,000 compared to $10,427,000 a year ago. Net income was $5,015,000 compared to $6,517,000 a year ago. Basic and diluted net income per share was $1.57 compared to $2.03 a year ago. Net cash provided by operating activities was $7,031,000 compared to $7,173,000 a year ago. Capital expenditures were $3,188,000 compared to $1,349,000 a year ago. Adjusted net income was $6,505,000 compared to $6,517,000 a year ago. Adjusted EBITDA was $14,071,000 compared to $14,028,000 a year ago. Basic and diluted adjusted net income per share was $2.04 compared to $2.03 a year ago.

For the quarter, the company reported impairment loss on long-lived assets of $1,389,000.