Cleaning & Restoration Breaking News

Q.E.P. reports Second Quarter financial results

Q.E.P. Co., Inc. announced a loss in net income as it unveiled its financial results for its fiscal 2002 second quarter.

BOCA RATON, Fla.-- Q.E.P. Co., Inc. (Nasdaq:QEPC), announced a 33 percent hike it its gross profit margin but a loss in net income as it unveiled its financial results for its fiscal 2002 second quarter and six months ended Aug. 31.

Second quarter net sales were $27.3 million compared with $28.2 million for the corresponding quarter last year. Gross profit margin continued to improve during the quarter to 33.57 percent versus 33.30 percent in fiscal 2001's second quarter. Net income was $609,000, compared with $855,000 a year ago, and earnings per basic and diluted share were 18-cents versus last year's 25-cents.

Net sales for the first half of fiscal 2001 were $56.2 million compared with $59.8 million for the same period last year. After adjusting for approximately $3 million in prior-year revenue attributable to the sale of Q.E.P's tackless carpet strip business, revenues were in line with last year's. Net income for the period was $1.2 million versus $1.8 million for the comparable period last year. Earnings per basic and diluted share were 36-cents compared with last year's split-adjusted 53-cents.

Q.E.P. Co., Inc., is a leading manufacturer, marketer and distributor of a broad line of specialty tools and flooring-related products. Under brand names Q.E.P., Roberts, and O'Tool, Q.E.P. markets approximately 4,000 specialty tools and related products used primarily for the preparation and installation of ceramic tile, carpet, and marble. It sells its products to large home improvement retail centers, as well as traditional distribution outlets in 50 states and 49 countries worldwide. For more information, visit Q.E.P.'s Web site at

Did you enjoy this article? Click here to subscribe to i Cleaning Specialist Magazine.

You must login or register in order to post a comment.



Image Galleries

The 2014 Experience Conference and Exhibition

A look in photos at the 2014 Experience Conference and Exhibition, which was held from April 24-26 at the Embassy Suites Convention Center and Spa in Frisco, Texas.


Beginning April 21, Google will start judging websites based on their mobile friendliness. What exactly does this mean to you cleaning website? Find out in the latest edition of The Hitman Advertising Show, which will also cover tips and suggestions on getting mobile compliant.
More Podcasts

ICS Cleaning Specialist Magazine


2015 April

The April ICS issue features content on concrete polishing, green cleaning, air duct cleaning, injection sprayers and new products.

Table Of Contents Subscribe

Janitorial Work

In addition to residential and commercial carpet cleaning, do you do any janitorial work on the side?
View Results Poll Archive


The Carpet Cleaner's Book of Unlimited Success! (ebook)

Don’t worry about the recession or about your competition.  Now you can be the owner of over 400 ways for carpet cleaning professionals to make more money and get more jobs!

More Products


Director_Buyer.jpgThe premier resource and reference guide for the cleaning and restoration industries.

Click here to view


facebook_40.png twitter_40px.png youtube_40px.png


Truckmount.jpgEquipment listings and specifications from the leading industry manufacturers.

Click here to view