QEP posted fiscal Q1 net income of USD 4.05 million, down 9.1%, with diluted EPS at USD 1.33.
Net sales slipped 0.9% to USD 61 million, pressured by lower sales in the non-core powder business.
Gross profit fell 4.1% to USD 21.75 million; gross margin narrowed 1.2 percentage points to 35.7% on higher tariff costs and inflation.
Operating income eased to USD 5.28 million from USD 5.83 million, as higher outbound freight and sales-and-marketing investment offset tariff refunds.
Cash flow and capital returns
Cash provided by operating activities rose to USD 6.04 million from USD 2.62 million; QEP repurchased about USD 7 million of stock and paid USD 673,000 in dividends.
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