{"id":414768,"date":"2021-01-14T08:01:27","date_gmt":"2021-01-14T13:01:27","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=414768"},"modified":"2021-01-14T08:01:27","modified_gmt":"2021-01-14T13:01:27","slug":"q-e-p-co-inc-reports-fiscal-2021-nine-month-and-third-quarter-financial-results-and-announces-a-5-percent-special-stock-dividend","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/q-e-p-co-inc-reports-fiscal-2021-nine-month-and-third-quarter-financial-results-and-announces-a-5-percent-special-stock-dividend\/","title":{"rendered":"Q.E.P. Co., Inc. Reports Fiscal 2021 Nine Month and Third Quarter Financial Results and Announces a 5 Percent Special Stock Dividend"},"content":{"rendered":"
\n

BOCA RATON, Fla., Jan. 14, 2021 (GLOBE NEWSWIRE) — Q.E.P. CO., INC. (OTC: QEPC.PK) <\/strong>(the \u201cCompany\u201d or \u201cQEP\u201d) today reported its consolidated results of operations for the first nine months and third quarter of its fiscal year ending February 28, 2021 and announces a five percent special stock dividend.<\/p>\n

QEP reported net sales of $288.0 million for the nine months ended November 30, 2020, a decrease of $11.1 million or 3.7% from the $299.1 million reported in the same period of fiscal 2020. The Company reported net sales of $98.9 million for the quarter ended November 30, 2020, an increase of $2.2 million or 2.3% from the $96.7 million reported in the same period of fiscal 2020. The fiscal 2021 nine month decline in sales compared to the prior year reflects the adverse impact of the worldwide economic downturn caused by the COVID-19 pandemic during the first quarter of the current year. All subsequent quarters reflect increased year-over-year net sales.<\/p>\n

Lewis Gould, Executive Chairman, commented on the Company\u2019s results, \u201cI am pleased that the Company was able to generate sales growth for the second consecutive quarter, which has further offset the sales decline in the first quarter that was the results of the COVID-19 related economic downturn. The sales increase during the previous two quarters was driven by retail channels in North America, despite COVID-19 related challenges in the dealer and distributor channels, and growth in the Company\u2019s overseas operations. During the quarter, the Company continued to maintain aggressive cost control measures, which included lower personnel cost, along with reduced overhead and marketing expenses. Collectively, these actions resulted in the Company\u2019s increased profitability during the quarter and for the first nine months of the year.\u201d\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n

Mr. Gould concluded, \u201cThe Company is diligently monitoring and adjusting its response not only to the COVID-19 pandemic, but also to the challenges presented by the weakening U.S. Dollar, shifts in global sourcing patterns and political uncertainty in the U.S. and U.K.\u00a0\u00a0 I believe that the Company under the current leadership team is emerging from the current crisis better positioned for long-term profitability and the creation of sustainable shareholder value.\u201d<\/p>\n

The Company\u2019s gross profit for the first nine months of fiscal 2021 was $81.8 million compared to $79.5 million in the corresponding fiscal 2020 period, an increase of $2.3 million or 2.8%. Gross profit for the third quarter of fiscal 2021 was $28.7 million, representing an increase of $2.2 million or 8.2%, from $26.5 million in the fiscal 2020 period. The Company\u2019s gross margin as a percentage of net sales for the first nine months and third quarter of fiscal year 2021 was 28.4% and 29.0%, respectively, which increased from 26.6% and 27.4% in the prior fiscal year periods, respectively. The gross margin as a percentage of net sales improvement is due to favorable changes in product mix and timely actions taken by the Company to reduce manufacturing overhead during the first nine months and third quarter of fiscal 2021.<\/p>\n

Operating expenses, excluding restructuring loss, for the first nine months and third quarter of fiscal 2021 were $71.7 million and $25.1 million, respectively, or 24.9% and 25.3% of net sales in those periods, compared to $85.1 million and $26.5 million, respectively, or 28.4% and 27.4% of net sales in the comparable fiscal 2020 periods. The reduction in operating expenses is due to year-over-year synergies realized through the integration and rationalization of fiscal 2019 acquisitions, lower personnel costs through reduction-in-force and employee furlough activities during the COVID-19 economic downturn, lower marketing and travel expenses, along with government subsidies received for maintaining employment levels at the Company\u2019s international operations.<\/p>\n

Restructuring charges for the first nine months and third quarter of fiscal 2021 represent the legal, administrative and asset impairment cost associated with the restructuring of the Company\u2019s Canadian subsidiary, net of the benefit related to the Plan of Compromise agreed with the subsidiary\u2019s unsecured creditors.<\/p>\n

The lower interest expense during the first nine months and third quarter of fiscal 2021 compared to the same periods in the prior fiscal year was principally due to a reduction in borrowings under the Company\u2019s credit facilities during the current period.<\/p>\n

The provision for income taxes as a percentage of incomes before taxes was 28.0% for the first nine months and third quarter of fiscal 2021 compared to a benefit for income taxes as a percentage of the loss before taxes of 28.0% for the related fiscal 2020 periods.<\/p>\n

Net income for the first nine months and third quarter of fiscal 2021 was $5.5 million and $2.1 million, respectively, or $1.75 and $0.66, respectively, per diluted share. For the comparable periods of fiscal 2020, net loss was $3.7 million and $0.4 million, respectively, or $1.16 and $0.13, respectively, per diluted share.<\/p>\n

Earnings (loss) before interest, taxes, depreciation and amortization (EBITDA) as adjusted for non-operating income and restructuring charges for the first nine months and third quarter of fiscal 2021 was $13.4 million and $4.8 million, respectively as compared to a loss of $2.0 million and income of $1.2 million for the first nine months and third quarter of fiscal 2020, respectively.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\n For the Three Months<\/strong>
\n
\n Ended <\/strong>
\n
\n November 30,<\/strong>\n <\/td>\n		\n \u00a0<\/strong>\n <\/td>\n\n For the Nine Months<\/strong>
\n
\n Ended<\/strong>
\n
\n November 30, <\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2020<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 2019<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2020<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 2019<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income (loss)<\/td>\n$<\/td>\n2,104<\/td>\n\u00a0<\/td>\n$<\/td>\n(398<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n5,535<\/td>\n\u00a0<\/td>\n$<\/td>\n(3,664<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Add:<\/td>\nInterest expense, net<\/td>\n\u00a0<\/td>\n383<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n583<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,229<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,885<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nProvision\/(benefit) for income taxes<\/td>\n\u00a0<\/td>\n818<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(155<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,153<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,426<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\nDepreciation and amortization<\/td>\n\u00a0<\/td>\n1,180<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,194<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,402<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,587<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nNon-operating income<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2,370<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\nRestructuring charges<\/td>\n\u00a0<\/td>\n301<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,110<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n<\/tr>\n
EBITDA as adjusted for non-operating income and restructuring charges<\/td>\n$<\/td>\n4,786<\/td>\n\u00a0<\/td>\n$<\/td>\n1,224<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n13,429<\/td>\n\u00a0<\/td>\n$<\/td>\n(1,988<\/td>\n)<\/td>\n<\/tr>\n<\/table>\n

\n

Cash provided by operations during the first nine months of fiscal 2021 was $30.6 million as compared to $1.8 million in the first nine months of fiscal 2020, reflecting an increase in operating income and a reduction in net investments in working capital. During the first nine months of fiscal 2020, the Company sold a certain non-core product line and recorded a gain on the sale of $2.4 million before income taxes, which was recorded in non-operating income.\u00a0\u00a0 In the first nine months of fiscal 2021, cash from operations was used primarily to pay down $17.8 million of debt and increase cash balances. In the prior fiscal year period, cash provided by operations and proceeds from the sale of a non-core product line was used to pay down debt.\u00a0\u00a0<\/p>\n

Working capital at the end of the Company\u2019s third of fiscal 2021 was $41.1 million compared to $29.1 million at the end of fiscal 2020.\u00a0\u00a0 Aggregate debt, net of available cash balances at the end of the third quarter of fiscal 2021 was $19.1 million or 27.6% of equity, a decrease of $27.3 million compared to $46.4 million or 73.9% of equity at the end of fiscal 2020.<\/p>\n

On June 29, 2020, the Company\u2019s Canadian operating subsidiary, Roberts Company Canada Limited, was granted an Order by the Ontario Superior Court of Justice (Commercial List) to commence a restructuring proceeding under the Companies\u2019 Creditor Arrangement Act (CCAA). This filing was initiated to allow the subsidiary to be able to continue operating while it efficiently restructures its business. The subsidiary has substantially completed its reorganization and is expected to fully emerge from the CCAA protection before the end of fiscal 2021. The Company is not a party to this proceeding.<\/p>\n

On January 13, 2021, the Company\u2019s Board of Directors declared a one-time, special stock dividend of 5% per share on the common stock of the Company. The stock dividend is distributable on or about February 19, 2021, to shareholders of record at the close of business on January 18, 2021.<\/p>\n

\n Conference Call Information<\/strong>\n <\/p>\n

The Company will be hosting the following conference call to discuss its third quarter financial results and answer questions.<\/p>\n\n\n\n\n\n\n\n\n\n
Date:<\/td>\nThursday, January 21, 2021<\/td>\n<\/tr>\n
Time:\u00a0<\/td>\n10:00 a.m. Eastern Time<\/td>\n<\/tr>\n
Dial-in Numbers:<\/td>\n800-367-2403 (US or Canada)<\/td>\n<\/tr>\n
\u00a0<\/td>\n+1 334-777-6978 (International)<\/td>\n<\/tr>\n
Confirmation Code:<\/td>\n6121544<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Replay:<\/td>\n719-457-0820; Passcode: 6121544<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n About QEP<\/strong>
\n \n <\/p>\n

Founded in 1979, Q.E.P. Co., Inc. is a leading global provider of high quality, innovative and value-driven flooring and flooring installation solutions. QEP manufactures, markets and sells a comprehensive line of flooring installation tools, adhesives, and underlayment for both consumers as well as professional installers. Under the Harris Flooring Group \u2122, QEP manufactures and offers a complete line of hardwood, luxury vinyl, and modular carpet tile. QEP sells its products throughout the world to home improvement retail centers, professional specialty distribution outlets, and flooring dealers under brand names including QEP\u00ae, LASH\u00ae, Roberts\u00ae, Harris Flooring Group\u2122, Capitol\u00ae, Harris\u00aeWood, Kraus\u00ae, Naturally Aged Flooring\u2122, Vitrex\u00ae, Homelux\u00ae, Brutus\u00ae, PRCI\u00ae, Plasplugs\u00ae, Tomecanic\u00ae, Premix-Marbletite\u00ae (PMM), Apple Creek\u00ae and Elastiment\u00ae.<\/p>\n

QEP is headquartered in Boca Raton, Florida with offices in Canada, Europe, Asia, Australia and New Zealand. Please visit our website at www.qepcorporate.com<\/a>.<\/p>\n

\n Forward-Looking Statements<\/strong>\n <\/p>\n

This press release contains forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release, other than statements of historical facts, may constitute forward-looking statements within the meaning of the federal securities laws. These statements can be identified by words such as “expects,” “plans,” “projects,” “will,” “may,” “anticipates,” “believes,” “should,” “intends,” “estimates,” and other words of similar meaning. Any forward-looking statements contained herein are based on current expectations and beliefs, and are subject to a number of risks and uncertainties. These forward-looking statements include, but are not limited to, statements regarding economic conditions, sales growth, price increases, profit improvements, product development and marketing, operating expenses, cost savings, acquisition integration, operational synergy realization, global sourcing, political uncertainty, cash flow, debt and currency exchange rates. Forward-looking statements may also be adversely affected by general market factors, competitive product development, product availability, federal and state regulations and legislation, manufacturing issues that may arise, patent positions and litigation, among other factors. The forward-looking statements contained in this press release speak only as of the date the statements were made, and the Company does not undertake any obligation to update forward-looking statements, except as required by law.<\/p>\n

\n
\n -Financial Information Follows-<\/em>
\n <\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\n Q.E.P. CO., INC. AND SUBSIDIARIES<\/strong>\n <\/td>\n<\/tr>\n
\n CONSOLIDATED STATEMENTS OF OPERATIONS<\/strong>\n <\/td>\n<\/tr>\n
(In thousands except per share data)<\/td>\n<\/tr>\n
(Unaudited)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n For the Three Months Ended<\/strong>\n <\/td>\n\u00a0<\/td>\n\n For the Nine Months Ended<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n November 30,<\/strong>\n <\/td>\n\u00a0<\/td>\n\n November 30,<\/strong>\n <\/td>\n\u00a0<\/td>\n\n November 30,<\/strong>\n <\/td>\n\u00a0<\/td>\n\n November 30,<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n 2020<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2019<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2020<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2019<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net sales<\/td>\n$<\/td>\n98,941<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n96,682<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n288,008<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n299,059<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cost of goods sold<\/td>\n\u00a0<\/td>\n70,277<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n70,202<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n206,257<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n219,565<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Gross profit<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 28,664<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 26,480<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 81,751<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 79,494<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Operating expenses:<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Shipping<\/td>\n\u00a0<\/td>\n11,544<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,152<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n32,516<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n33,060<\/td>\n\u00a0<\/td>\n<\/tr>\n
General and administrative<\/td>\n\u00a0<\/td>\n6,897<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,101<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n20,858<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n25,849<\/td>\n\u00a0<\/td>\n<\/tr>\n
Selling and marketing<\/td>\n\u00a0<\/td>\n6,687<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,646<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n18,780<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n27,012<\/td>\n\u00a0<\/td>\n<\/tr>\n
Restructuring<\/td>\n\u00a0<\/td>\n301<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,110<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other income, net<\/td>\n\u00a0<\/td>\n(70<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(449<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(430<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(852<\/td>\n)<\/td>\n<\/tr>\n
Total operating expenses<\/td>\n\u00a0<\/td>\n25,359<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n26,450<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n72,834<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n85,069<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Operating income<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 3,305<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 30<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 8,917<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (5,575<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-operating income<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,370<\/td>\n\u00a0<\/td>\n<\/tr>\n
Interest expense, net<\/td>\n\u00a0<\/td>\n(383<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(583<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,229<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,885<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Income (loss) before provision for income taxes<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 2,922<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (553<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 7,688<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (5,090<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Provision (benefit) for income taxes<\/td>\n\u00a0<\/td>\n818<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(155<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,153<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,426<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Net income (loss)<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 2,104<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n (398<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 5,535<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n (3,664<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Earnings (loss) per share:<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic<\/td>\n$<\/td>\n0.66<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.13<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n1.75<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(1.16<\/td>\n)<\/td>\n<\/tr>\n
Diluted<\/td>\n$<\/td>\n0.66<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.13<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n1.75<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(1.16<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Weighted average number of common<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n shares outstanding:<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic<\/td>\n\u00a0<\/td>\n3,171<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,164<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,165<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,164<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted<\/td>\n\u00a0<\/td>\n3,171<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,164<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,165<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,164<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Q.E.P. CO., INC. AND SUBSIDIARIES<\/strong>\n <\/td>\n<\/tr>\n
\n CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)<\/strong>\n <\/td>\n<\/tr>\n
(In thousands)<\/td>\n<\/tr>\n
(Unaudited)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n For the Three Months Ended<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n For the Nine Months Ended<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n November 30,<\/strong>\n <\/td>\n\u00a0<\/td>\n\n November 30,<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n November 30,<\/strong>\n <\/td>\n\u00a0<\/td>\n\n November 30,<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n 2020<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2019<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2020<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2019<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income (loss)<\/td>\n\u00a0<\/td>\n$<\/td>\n2,104<\/td>\n\u00a0<\/td>\n$<\/td>\n(398<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n5,535<\/td>\n\u00a0<\/td>\n$<\/td>\n(3,664<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Unrealized currency translation adjustments<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n160<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n349<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n835<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(480<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Comprehensive income (loss)<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 2,264<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n (49<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 6,370<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n (4,144<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Q.E.P. CO., INC. AND SUBSIDIARIES<\/strong>\n <\/td>\n<\/tr>\n
\n CONSOLIDATED BALANCE SHEETS<\/strong>\n <\/td>\n<\/tr>\n
(In thousands except per share values)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n November 30,
2020<\/strong>\n <\/td>\n		\u00a0<\/td>\n\n February 29,
2020<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n (Unaudited)<\/strong>\n <\/td>\n\u00a0<\/td>\n\n (Audited)<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n ASSETS<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash<\/td>\n$<\/td>\n17,284<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n4,999<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accounts receivable, less allowance for doubtful accounts of $1,132<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
and $475 as of November 30, 2020 and February 29, 2020, respectively<\/td>\n\u00a0<\/td>\n48,986<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n49,264<\/td>\n\u00a0<\/td>\n<\/tr>\n
Inventories<\/td>\n\u00a0<\/td>\n61,181<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n69,061<\/td>\n\u00a0<\/td>\n<\/tr>\n
Prepaid expenses and other current assets<\/td>\n\u00a0<\/td>\n4,195<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,280<\/td>\n\u00a0<\/td>\n<\/tr>\n
Prepaid income taxes<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n740<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Current assets<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 131,646<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 128,344<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Property and equipment, net<\/td>\n\u00a0<\/td>\n13,748<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15,168<\/td>\n\u00a0<\/td>\n<\/tr>\n
Right of use operating lease assets<\/td>\n\u00a0<\/td>\n17,199<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n18,320<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deferred income taxes, net<\/td>\n\u00a0<\/td>\n4,132<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,135<\/td>\n\u00a0<\/td>\n<\/tr>\n
Intangibles, net<\/td>\n\u00a0<\/td>\n12,653<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13,871<\/td>\n\u00a0<\/td>\n<\/tr>\n
Goodwill<\/td>\n\u00a0<\/td>\n2,384<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,288<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other assets<\/td>\n\u00a0<\/td>\n2,857<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,824<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Total Assets<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 184,619<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 184,950<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n LIABILITIES AND SHAREHOLDERS’ EQUITY<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Trade accounts payable<\/td>\n$<\/td>\n37,320<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n31,114<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accrued liabilities<\/td>\n\u00a0<\/td>\n21,935<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n19,366<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current operating lease liabilities<\/td>\n\u00a0<\/td>\n5,225<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,262<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income taxes payable<\/td>\n\u00a0<\/td>\n698<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n<\/tr>\n
Lines of credit<\/td>\n\u00a0<\/td>\n22,068<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n40,107<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current maturities of notes payable<\/td>\n\u00a0<\/td>\n3,340<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,399<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Current liabilities<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 90,586<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 99,248<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Notes payable<\/td>\n\u00a0<\/td>\n10,928<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,854<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-current operating lease liabilities<\/td>\n\u00a0<\/td>\n13,063<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14,121<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deferred income taxes<\/td>\n\u00a0<\/td>\n114<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n114<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other long term liabilities<\/td>\n\u00a0<\/td>\n817<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n872<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Total Liabilities<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 115,508<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 122,209<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Preferred stock, 2,500 shares authorized, $1.00 par value; 0 shares<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
issued and outstanding at November 30, 2020 and February 29, 2020<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n<\/tr>\n
Common stock, 20,000 shares authorized, $.001 par value;<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
3,827 shares issued, and 3,139 shares outstanding at<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
November 30, 2020 and February 29, 2020<\/td>\n\u00a0<\/td>\n4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4<\/td>\n\u00a0<\/td>\n<\/tr>\n
Additional paid-in capital<\/td>\n\u00a0<\/td>\n11,087<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,087<\/td>\n\u00a0<\/td>\n<\/tr>\n
Retained earnings<\/td>\n\u00a0<\/td>\n70,422<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n64,887<\/td>\n\u00a0<\/td>\n<\/tr>\n
Treasury stock, 688 shares held at cost at November 30, 2020<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
and February 29, 2020<\/td>\n\u00a0<\/td>\n(8,869<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(8,869<\/td>\n)<\/td>\n<\/tr>\n
Accumulated other comprehensive income<\/td>\n\u00a0<\/td>\n(3,533<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(4,368<\/td>\n)<\/td>\n<\/tr>\n
\n Shareholders’ Equity<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 69,111<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 62,741<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Total Liabilities and Shareholders’ Equity<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 184,619<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 184,950<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Q.E.P. CO., INC. AND SUBSIDIARIES<\/strong>\n <\/td>\n<\/tr>\n
\n CONSOLIDATED STATEMENTS OF CASH FLOWS<\/strong>\n <\/td>\n<\/tr>\n
(In thousands)<\/td>\n<\/tr>\n
(Unaudited)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n For the Nine Months Ended<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n November 30,<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n 2020<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2019<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Operating activities:<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income (loss)<\/td>\n$<\/td>\n5,535<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(3,664<\/td>\n)<\/td>\n<\/tr>\n
Adjustments to reconcile net income to net cash<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
provided by operating activities:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Gain on sale of business<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2,370<\/td>\n)<\/td>\n<\/tr>\n
Gain on sale of property<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6<\/td>\n\u00a0<\/td>\n<\/tr>\n
Restructuring<\/td>\n\u00a0<\/td>\n(260<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n<\/tr>\n
Depreciation and amortization<\/td>\n\u00a0<\/td>\n3,402<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,587<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other non-cash adjustments<\/td>\n\u00a0<\/td>\n132<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n211<\/td>\n\u00a0<\/td>\n<\/tr>\n
Changes in assets and liabilities, net of acquisitions:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accounts receivable<\/td>\n\u00a0<\/td>\n526<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,057<\/td>\n\u00a0<\/td>\n<\/tr>\n
Inventories<\/td>\n\u00a0<\/td>\n6,999<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12,287<\/td>\n\u00a0<\/td>\n<\/tr>\n
Prepaid expenses and other assets<\/td>\n\u00a0<\/td>\n2,155<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,056<\/td>\n\u00a0<\/td>\n<\/tr>\n
Trade accounts payable and accrued liabilities<\/td>\n\u00a0<\/td>\n12,090<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(17,363<\/td>\n)<\/td>\n<\/tr>\n
\n Net cash provided by operating activities<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 30,579<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1,807<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Investing activities:<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Acquisitions<\/td>\n\u00a0<\/td>\n(448<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,324<\/td>\n)<\/td>\n<\/tr>\n
Capital expenditures<\/td>\n\u00a0<\/td>\n(576<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(933<\/td>\n)<\/td>\n<\/tr>\n
Proceeds from sale of business<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,663<\/td>\n\u00a0<\/td>\n<\/tr>\n
Proceeds from sale of property<\/td>\n\u00a0<\/td>\n252<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n287<\/td>\n\u00a0<\/td>\n<\/tr>\n
Purchase of equity securities<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,900<\/td>\n)<\/td>\n<\/tr>\n
\n Net cash provided by (used in) investing activities<\/strong>\n <\/td>\n\u00a0<\/td>\n\n (772<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 793<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Financing activities:<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net borrowings (repayment) under lines of credit<\/td>\n\u00a0<\/td>\n(18,634<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(5,714<\/td>\n)<\/td>\n<\/tr>\n
Net borrowings (repayments) of notes payable<\/td>\n\u00a0<\/td>\n857<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(216<\/td>\n)<\/td>\n<\/tr>\n
Purchase of treasury stock<\/td>\n\u00a0<\/td>\n(90<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(90<\/td>\n)<\/td>\n<\/tr>\n
Principal payments on finance leases<\/td>\n\u00a0<\/td>\n(68<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Net cash used in financing activities<\/strong>\n <\/td>\n\u00a0<\/td>\n\n (17,935<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (6,020<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n<\/tr>\n
Effect of exchange rate changes on cash<\/td>\n\u00a0<\/td>\n413<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(218<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Net decrease in cash<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 12,285<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (3,638<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n<\/tr>\n
Cash at beginning of period<\/td>\n\u00a0<\/td>\n4,999<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,467<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Cash at end of period<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 17,284<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 2,829<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Q.E.P. CO., INC. AND SUBSIDIARIES<\/strong>\n <\/td>\n<\/tr>\n
\n CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY<\/strong>\n <\/td>\n<\/tr>\n
(In thousands, except shares data)<\/td>\n<\/tr>\n
(Unaudited)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nAccumulated<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nOther<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nTotal<\/td>\n<\/tr>\n
\u00a0<\/td>\nPreferred Stock<\/td>\n\u00a0<\/td>\nCommon Stock<\/td>\n\u00a0<\/td>\nPaid-in<\/td>\n\u00a0<\/td>\nRetained<\/td>\n\u00a0<\/td>\nTreasury<\/td>\n\u00a0<\/td>\nComprehensive<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nShareholders’<\/td>\n<\/tr>\n
\u00a0<\/td>\nShares<\/td>\n\u00a0<\/td>\nAmount<\/td>\n\u00a0<\/td>\nShares<\/td>\n\u00a0<\/td>\nAmount<\/td>\n\u00a0<\/td>\nCapital<\/td>\n\u00a0<\/td>\nEarnings<\/td>\n\u00a0<\/td>\nStock<\/td>\n\u00a0<\/td>\nIncome<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nEquity<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Balance at February 28, 2019<\/strong>\n <\/td>\n\n – <\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n – <\/strong>\n <\/td>\n\u00a0<\/td>\n\n 3,820,785 <\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 4 <\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 10,963 <\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 77,029 <\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n (8,700<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n (3,774<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 75,522 <\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net loss<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(12,142<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(12,142<\/td>\n)<\/td>\n<\/tr>\n
Other comprehensive income (loss)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(594<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(594<\/td>\n)<\/td>\n<\/tr>\n
Issuance of common stock in connection with
exercise of stock options<\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,857<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n124<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n124<\/td>\n\u00a0<\/td>\n<\/tr>\n
Purchase of treasury stock<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(169<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(169<\/td>\n)<\/td>\n<\/tr>\n
\n Balance at February 29, 2020<\/strong>\n <\/td>\n\n – <\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n – <\/strong>\n <\/td>\n\u00a0<\/td>\n\n 3,826,642 <\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 4 <\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 11,087 <\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 64,887 <\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n (8,869<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n (4,368<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 62,741 <\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,535<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,535<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other comprehensive income (loss)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n835<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n835<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Balance at November 30, 2020<\/strong>\n <\/td>\n\n – <\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n – <\/strong>\n <\/td>\n\u00a0<\/td>\n\n 3,826,642 <\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 4 <\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 11,087 <\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 70,422 <\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n (8,869<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n (3,533<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 69,111 <\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\u00a0<\/p>\n

\n CONTACT: <\/strong>
\n
\n Q.E.P. Co., Inc.<\/strong>
\n
\n Enos Brown<\/strong>
\n
\n Executive Vice President and<\/strong>
\n
\n Chief Financial Officer<\/strong>
\n
\n 561-994-5550<\/strong>\n <\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

BOCA RATON, Fla., Jan. 14, 2021 (GLOBE NEWSWIRE) — Q.E.P. CO., INC. (OTC: QEPC.PK) (the \u201cCompany\u201d or \u201cQEP\u201d) today reported its consolidated results of operations for the first nine months and third quarter of its fiscal year ending February 28, 2021 and announces a five percent special stock dividend. QEP reported net sales of $288.0 million for the nine months ended November 30, 2020, a decrease of $11.1 million or 3.7% from the $299.1 million reported in the same period of fiscal 2020. The Company reported net sales of $98.9 million for the quarter ended November 30, 2020, an increase of $2.2 million or 2.3% from the $96.7 million reported in the same period of fiscal 2020. The fiscal 2021 … <\/p>\n

Continue reading “Q.E.P. Co., Inc. Reports Fiscal 2021 Nine Month and Third Quarter Financial Results and Announces a 5 Percent Special Stock Dividend”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-414768","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nQ.E.P. Co., Inc. 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