Q.E.P. Reports Q2 Sales and Announces CFO Change

Boca Raton, FL, September 30, 2015—Q.E.P. reported net sales of $160.0 million for the six months ended August 31, an increase of $3.2 million or 2.1% from the $156.8 million reported in the same period of fiscal 2015.

As a percentage of net sales, gross margin was 27.1% in the first six months of fiscal 2016 compared to 27.4% in the first six months of fiscal 2015.

Net sales for the second quarter of fiscal 2016 were $81.7 million and reflected a gross margin of 27.1% compared to net sales of $77.0 million and a gross margin of 27.0% for the second quarter of fiscal 2015.

In addition, the company announced that Richard A. Brooke, senior vice president and chief financial officer, is retiring and will be succeeded by Mark S. Walter.