QEP Increased Sales in Q2, Completed Kraus Assets Acquisition
Boca Raton, FL, October 12, 2018-Q.E.P. reported a net sales increase of 10% for Q2 2018, compared to Q2 2017. Net income for the quarter was $580,000, compared to $2,402,000 in the prior year period.
Q.E.P. reported a net sales increase of 8.6% for the six months of the year, compared to the same period in 2017. For the first half of 2018, net income was $2,002,000, compared to $4,693,000 in the first half of 2017.
In addition, Q.E.P. announced that it completed the acquisition of certain assets of the hard surface and carpet tile distribution business of Kraus in both the U.S. and Canada.