Boca Raton, FL, July 1, 2013 -- Q.E.P. Co. reported first quarter net income of $5.1 million or $1.56 per share, compared to $2.3 million, or $0.68 per share a year ago.
The company reported record net sales of $83.4 million, an increase of $13.6 million or 19.4% from the $69.8 million reported in the same period last year.
“Sales continue to grow quarter over quarter reflecting the positive contribution of our recent acquisitions as well as modest growth in our core operations in spite of challenging market conditions," said Chairman Lewis Gould.
Gould said the company is continuing to look at acquisitions.