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DECORATOR INDUSTRIES, INC. REPORTS 892 PERCENT FOURTH QUARTER EARNINGS INCREASE

 PEMBROKE PINES, Fla., Feb. 23 /PRNewswire/ -- Decorator Industries, Inc. (AMEX: DII) today reported that earnings skyrocketed 892 percent during the fourth quarter of 1992, as compared to fourth quarter of 1991, setting a new earnings record for the third consecutive quarter, and solidly establishing fiscal 1992 as the most profitable year in it's history.
 For the fiscal 1992 fourth quarter, ended Jan. 2, 1993, net income was a record $484,348, or 52 cents per share (primary), compared with $48,849, or five cents per share (primary) for last year's fourth quarter.
 For the fiscal year 1992, net income was a record $1,528,787, or $1.68 per share (primary), as compared to a loss of $125,551 in fiscal 1991.
 William Bassett, president, stated that, "The record net income is the result of improved production efficiencies, containment of overhead costs, more effective management of inventories and accounts receivable, and increased demand from the depressed market levels of recent years.
 "Revenues increased at an accelerated pace, with sales up 54 percent during the fourth quarter and 31 percent for the entire fiscal year.
 "The company's performance was justly rewarded by the stock market during the year. The stock closed 1992 at $14.875, up 561 percent from its opening price and was the number one best performing stock on the American Stock Exchange during 1992.
 "1993 has started the same as 1992 ended...very strong. With the economy projected to show continuing improvement, we can only reiterate what we said last quarter... we expect another excellent year in 1993.'"
 After some 40 years, the founder of the company, Earl Rappaport, who is past 75 years of age, has advised the board of his intentions to step down before the end of the year. At this date, he has resigned as chief executive officer and the board has elected Bassett to succeed him.
 Bassett has been president of the company for the past 13 years and has been directly responsible for all operations of the business during that time.
 The board of directors, on behalf of the company, has extended to Rappaport its heartfelt thanks for his many decades of devotion and commitment.
 Decorator Industries, Inc. manufactures draperies, bedspreads and other accessories for the hospitality (motel/hotel), recreational vehicle and manufactured housing industry.
 DECORATOR INDUSTRIES, INC.
 Consolidated Report of Sales and earnings
 (unaudited)
 Periods Ended Fourth Quarter Year
 1/2/93 12/28/91 1/2/93 12/28/91
 Net sales $6,397,177 $4,157,202 $23,605,290 $18,072,368
 Net income from
 continuing
 operations 484,348 48,849 1,528,787 133,609
 (Loss) on discontinued
 operations -- -- -- (259,160)
 Net income (loss) 484,348 48,849 1,528,787 (125,551)
 Income per share from
 continuing operations $0.52 $0.05 $1.68 $0.13
 (Loss) per share on
 discontinued operations -- -- -- $(0.25)
 Total primary earnings
 (loss) per share $0.52 $0.05 $1.68 $(0.12)
 Fully diluted earnings
 (loss) per share $0.46 $0.05 $1.50 $(0.12)
 Average shares
 outstanding 918,558 1,028,254 907,421 1,047,830
 -0- 2/23/93
 /CONTACT: William Bassett, president, 305-435-8909, or Jerome B. Lieber, secretary, in Pittsburgh, 412-392-2121, both of Decorator Industries/
 (DII)


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

CD-JS -- PG008 -- 9394 02/23/93 11:57 EST
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Publication:PR Newswire
Date:Feb 23, 1993
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