For the first fiscal quarter of 2012, Q.E.P. Co. Inc. (Boca Raton, Fla.) reported net income of $4.1 million, or $1.22 per diluted share. The latest figure is a new record and more than double the $1.9 million the company reported for the first fiscal quarter of 2011. The company also had record first quarter sales of $67.8 million, up from $60.6 million reported in the first fiscal quarter of 2011. Lewis Gould, chairman of the company's board of directors, attributed the financial success to the company's Harris Wood brand.
For the first fiscal quarter of 2012, Q.E.P. Co. Inc. (Boca Raton, Fla.) reported net income of $4.1 million, or $1.22 per diluted share. The latest figure is a new record and more than double the $1.9 million the company reported for the first fiscal quarter of 2011. The company also had record first quarter sales of $67.8 million, up from $60.6 million reported in the first fiscal quarter of 2011. Lewis Gould, chairman of the company's board of directors, attributed the financial success to the company's Harris Wood brand.
"We are exceptionally pleased with the company's continued growth, especially the growth in our domestic Harris Wood manufacturing operations and in our overseas operations," said the Q.E.P.'s Chairman Lewis Gould.
Q.E.P. purchased Arborcraft LLC, owner of the Harris Wood brand, in February 2010, and in May it purchased Porta-Nails Inc.
