Quality Products, Inc. (OTC:QPDC) has released the fourth quarter earnings for 2009. The company reported a net income of $3,492,072. It earned $2,023,308 the previous year during the same period, showing a 72.6% increase for the 2009 fourth quarter. Revenues were noted at $4,980,983, a 22.1$ decrease from the 2008 fourth quarter of $6,397,094.
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The company’s gross margin increased to 41.2% from the 36.6% experienced last year. The margin increase is attributed to the company’s product mix and pricing pressures within the marketplace. A full report of the fourth quarter and twelve month findings may be reviewed online at http://www.multipress.com/.
Quality Products, Inc. is a holding company that operates through three wholly owned operating subsidiaries: QPI Multipress, Inc., Columbus Jack Corporation (CJC) and A-1 Specialty & Gov't. Packaging, Inc (A1). QPI is a manufacturer of hydraulic presses and accessories. CJC, which was acquired by the Company in 2001, is a manufacturer of hydraulic jacks and other ground support equipment for aircraft. A1, established by the Company on September 29, 2003, provides packaging services for external customers, as well as for QPI and CJC. In November 2004, the management decided to discontinue the operations of A1 due to unacceptable performance in 2004, and an unsatisfactory outlook for 2005.
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