Q.E.P. Co. Inc. (Boca Raton, Fla.) earned $9.4 million during its fiscal year that ended Feb. 28, according to a company release. This amount is up from its previous fiscal year during which it earned just under $9 million. The company-which makes hardwood flooring, flooring installation tools, adhesives and other products for the professional and DIY markets-posted sales of $237.9 million during its latest fiscal year, an increase from $205.9 million the previous year.
Q.E.P. purchased Arborcraft LLC, owner of the Harris Wood brand, in February 2010, and this month it purchased Porta-Nails Inc."This year's results reflect positively on the company's continued progress in successfully expanding its business while maintaining a diligent focus on controlling costs," said Lewis Gould, chairman of the company's board of directors. He added that the Harris Wood brand has been "successfully integrated into our operations, and our growth in net assets remains at historic highs."
