Printer Friendly

DECORATOR INDUSTRIES, INC. FIRST QUARTER PROFITS SOAR 161 PERCENT ON INCREASED SALES

 PEMBROKE PINES, Fla., May 5 /PRNewswire/ -- Decorator Industries, Inc. (AMEX: DII), which manufactures draperies, bedspreads and other accessories for the hospitality (motel/hotel), recreational vehicle and manufactured housing industry, today reported its results for the first quarter of 1993.
 Net income continued to soar in the first quarter of 1993 by increasing 161 percent to $477,754 from $182,798 in the first quarter of 1992, a record for any first quarter.
 Net sales for the first quarter of 1993 increased almost 40 percent to $6,756,700 from $4,833,343 in the first quarter of 1992.
 William Bassett, president, said that the earnings gains are the result of more efficient operations and higher sales volumes across all markets that the company serves and are a reflection of both market growth and increased market share.
 Management believes that the company is well positioned to take advantage of its lean cost structure in the coming quarters. If the recovery continues, the company expects to have a record year in earnings per share.
 Bassett added that the company successfully completed the relocation of its Bloomsburg, Pa., plant and is prepared to take additional steps to increase capacity based on market area needs.
 The figures are as follows.
 DECORATOR INDUSTRIES, INC.
 Consolidated Report of Sales and Earnings (A)
 Quarter Ended April 3, 1993 March 28, 1992
 Net sales $6,756,700 $4,833,343
 Income before income taxes 755,754 295,798
 Income taxes 278,000 113,000
 Net income 477,754 182,798
 Primary earnings per share (B) $0.25 $0.10
 Fully diluted earnings per share (B) $0.22 $0.10
 Average number of shares outstanding (B) 1,876,330 1,805,444
 (A) Unaudited
 (B) As adjusted for the 2-for-1 stock split effected April 22, 1993.
 -0- 5/5/93
 /CONTACT: William Bassett, president, 305-436-8909, or Jerome B. Lieber, secretary, in Pittsburgh, 412-392-2121, both of Decorator Industries/
 (DII)


CO: Decorator Industries, Inc. ST: Florida IN: TEX SU: ERN

DM-CD -- PG007 -- 4832 05/05/93 11:26 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 5, 1993
Words:338
Previous Article:WHITMAN CORP. INCREASES DIVIDEND, AUTHORIZES REPURCHASE
Next Article:REGIONAL VICE PRESIDENT OF LATIN AMERICA JOINS INTERDIGITAL
Topics:


Related Articles
DECORATOR INDUSTRIES ANNOUNCES THIRD QUARTER RESULTS
DECORATOR INDUSTRIES, INC. FIRST QUARTER PROFITS SOAR 400 PERCENT ON INCREASED SALES
DECORATOR INDUSTRIES INC. SEES FURTHER SHARP GAINS IN SECOND QUARTER PROFIT
DECORATOR INDUSTRIES, INC., REPORTS QUADRUPLED SHARE EARNINGS
DECORATOR INDUSTRIES, INC. INITIATES 20-CENT ANNUAL CASH DIVIDEND; SEES INCREASED SECOND-QUARTER PROFITS
DECORATOR INDUSTRIES, INC. REPORTS ALL-TIME RECORD EARNINGS
FABRI-CENTERS ANNOUNCES FISCAL 1995 FIRST QUARTER FINANCIAL RESULTS
DECORATOR INDUSTRIES, INC. ISSUES FIRST QUARTER REPORT
Decorator Industries Reports Strong First Quarter Results.
Decorator Industries Reports Increased Net Income and Sales for the Second Quarter and Six Months of 2006.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters