Q.E.P. gets back to black in Q4 - South Florida Business Journal:

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percent, pulled into profit where last year it loggeea loss. However, the year-end number remained red. The Boca Raton-base specialty tools and flooring-related products maker, markete and distributor said itearned $458,000, or 13 cents a on sales of $53.3 million for the period. For the fourth quarter the year before, Q.E.P. QEPC) said it lost $1.6 million, or 47 centz a share, on sales of $50.8 For the year, the companh said it lost $5.5 million, or $1.64 a share, on saled of $216 million. The year before, said it earned $998,000, or 26 cents a share, on salesa of $206.2 million. Lewis Gould, Q.E.P.
chairman and chieft executive officer, said business conditionw continued tobe "Although the current firsg quarter of fiscal 2008 has not been completed, initial indicationes are for positive results," he For the fourth quarter, Q.E.P. said it generatedc $2.4 million of cash from operations, up from $100,00o in the fourth quarter the year before. For the the company said it generate $4.9 million of cash from up from $1.8 million the year before. Q.E.P.'s fourthg quarter ended Feb. 28. On April 26, the companty and its lenders executed aninth agreement. With certain financial covenants became less restrictive andthe company'sx ability to borrow against eligible inventorgy rose.
At Q.E.P.'s current inventory and receivablee levels, the company said the change increasexd its available borrowings byabougt $2 million. Shares closed up 55 or 9.4 percent, to $6.40. The 52-week high was $10.79 on May 30, 2006. The 52-week low was $4.37 on Dec. 12.