Q.E.P. Co. reports robust gains for 4th quarter and fiscal ’02

BOCA RATON, Fla. -- Q.E.P. Co. announced solid advances in its financial performance for the fiscal 2002 fourth quarter and full year ended Feb. 28, 2002.

Net income for the fourth quarter of fiscal 2002 rose 28% to $551,000, or 16 cents pr diluted share, compared with net income of $432,000, or 13 cents per diluted share, for the fourth quarter of 2001. Fourth quarter net sales remained flat at $26.9 million. Net income for the fiscal year of $2.1 million exceeded the $1.4 million earned during the prior fiscal year by 47%.