Q.E.P. Reports Higher Income, Sales for Year
Boca Raton, FL, May 21, 2014 -- Q.E.P. Co reported net income of $16.1 million for the year ended February 28, compared to $8.1 million the previous year.
Sales for the year were $302.7 million, up from $283.7 million the previous year.
"The Faus acquisition also provided the company with significant tax advantages and a superior manufacturing and distribution facility with over 380,000 square feet in Calhoun, Georgia," said chairman Lewis Gould.
"This provides the company with an opportunity to consolidate some of its operations within the Calhoun facility. This consolidation will continue throughout the coming year."
Gould said the laminate will help to round out its offering along, with its previous Harris Wood acquisition, so that it has wood, laminate and a comprehensive bundle of installation accessories.