Q.E.P. Co., Inc. Reports Earnings Results for the Second Quarter and Six Months Ended August 31, 2022
October 17, 2022 at 02:41 pm
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Q.E.P. Co., Inc. reported earnings results for the second quarter and six months ended August 31, 2022. For the second quarter, the company reported sales was USD 115.52 million compared to USD 112.87 million a year ago. Net loss was USD 0.513 million compared to net income of USD 2.38 million a year ago. Basic loss per share from continuing operations was USD 0.15 compared to basic earnings per share from continuing operations of USD 0.71 a year ago. Diluted loss per share from continuing operations was USD 0.15 compared to diluted earnings per share from continuing operations of USD 0.71 a year ago.
For the six months, sales was USD 232.6 million compared to USD 227.27 million a year ago. Net income was USD 0.475 million compared to USD 5.02 million a year ago. Basic earnings per share from continuing operations was USD 0.14 compared to USD 1.5 a year ago. Diluted earnings per share from continuing operations was USD 0.14 compared to USD 1.5 a year ago.
Q.E.P. Co., Inc. is a designer, manufacturer, and distributor of a range of flooring and installation solutions for commercial and home improvement projects around the world. The Company operates through two segments: North America and Europe. The Company offers a comprehensive line of specialty installation tools, adhesives, and underlayment. The Company sells its products throughout the world to home improvement retail centers and professional specialty distribution outlets under brand names, including QEP, LASH, ROBERTS, Capitol, Premix-Marbletite (PMM), Brutus, Homelux, PRCI, and Tomecanic. The Company's specialty tools, and related products are sold through the Company's sales staff; independent manufacturing representatives; outside salaried and commissioned sales representatives; an in-house telemarketing sales force, and e-commerce.