Acquisitions drive Q.E.P. Co. sales
Q.E.P. Co. reported net sales of $83.4 million for its most recent quarter, an increase of 19.4% from the same period last year.
The growth in sales reflects acquisitions made in North America and Europe during the past 12 months. Excluding acquisitions, net sales increased 3.3% quarter over quarter due to modest sales growth in both North America and certain international operations.
“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 Lewis Gould, chairman of the board.
Net income was $5.1 million, or $1.56 per diluted share.
Q.E.P. is a manufacturer of industrial tools including the brands QEP, Roberts, Plasplugs, Nupla, and Porta-Nails.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
