QEP Swings to Third Quarter Profit

Boca Raton, FL, Dec. 16, 2009-- Q.E.P., a maker of flooring tools and accessories, reported third quarter net income of $2.2 million or $0.63 per share, compared with a net loss of $8.4 million or $ 2.48 per share a year ago.

Net sales were $54.2 million, an increase of $5.6 million from the $48.6 million reported a year ago.
 
For the first nine month the company reported earnings of $6.5 million or $1.86 per share, compared with a net loss of $6.3 million or $1.86 per share last year.

Net sales for the first nine months of the year were $156.3 million compared to net sales of $162.5 million in the first nine months of fiscal 2009.