Q.E.P. Co., Inc. (QEPC) Reports Q1 Earnings
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Q.E.P. Co., Inc. (Nasdaq: QEPC) reports Q1 EPS of $0.35 per diluted share, compared to $0.23 per diluted share for the first quarter of fiscal 2008. (no estimates available)
The Company reported net sales of $52.9 million for the first quarter of fiscal 2009, a decrease of $4.1 million from the $57.0 million reported in the same quarter of fiscal 2008.
A better product mix at the Company's North American operations resulted in the gross margin increasing by 126 basis points from 29.1% in the first quarter of fiscal 2008 to 30.3% in the first quarter of fiscal 2009. Gross profit for the first quarter of fiscal 2009 was $16.0 million, a decrease of only $0.5 million from the first quarter of fiscal 2008 despite the $4.1 million decrease in net sales.[SM]
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