Q.E.P. CO., INC reported unaudited consolidated earnings results for the second quarter and six months ended August 31, 2015. For the quarter, the company reported net sales of $81,706,000 against $77,048,000 a year ago. Operating income was $3,702,000 against $1,207,000 a year ago. Income before provision for income taxes was $3,415,000 against $724,000 a year ago. Net income was $2,220,000 or $0.69 per basic and diluted share against $516,000 or $0.16 per basic and diluted share a year ago. EBITDA before non-operating expense was $4,817,000 against $2,479,000 a year ago.

For the six months, the company reported net sales of $159,973,000 against $156,755,000 a year ago. Operating income was $5,973,000 against $3,150,000 a year ago. Income before provision for income taxes was $5,366,000 against $2,367,000 a year ago. Net income was $3,488,000 or $1.08 per diluted share against $1,605,000 or $0.49 per basic and diluted share a year ago. Net cash provided by operating activities was $3,459,000 against $357,000 a year ago. Capital expenditures were $592,000 against $547,000 a year ago. EBITDA before non-operating expense was $8,158,000 against $5,741,000 a year ago.

The company also announced the retirement of Richard A. Brooke, the company's Senior Vice President and Chief Financial Officer, effective October 2, 2015. Mark S. Walter, 49, will assume the role of Chief Financial Officer. Mr. Walter has served as Senior Vice President Finance of the Company since August 2015. Mr. Walter has over 25 years of experience in finance and accounting, including ten years in various CFO roles, spanning public and private companies, private equity and public accounting. Mr. Walter is a CPA and was most recently President of MTN Satellite Communications, a private equity sponsored software, communications and technology company that was acquired by an affiliate of Abry Partners in July 2015.