Q.E.P. Co. Inc. reports fiscal '04 third-quarter financial results

Q.E.P. Co. Inc. has announced financial results for the fiscal 2004 third quarter and nine months ended November 30, 2003.

For the fiscal 2004 third quarter, net sales reached a single quarter record high of $36.6 million compared with $32.4 million for the corresponding period last fiscal year-a 13.0 percent increase. For the nine months of fiscal 2004, net sales were up 9.1 percent to $105.8 million from $97 million during the same period last fiscal year. Included in foregoing sales is a favorable effect from the change in foreign exchange rates of $1.4 million and $3.7 million, respectively for the three- and nine-months ended November 30, 2003. Net income, however, for these periods was not materially affected.