Printer Friendly

DECORATOR INDUSTRIES, INC. REPORTS ALL-TIME RECORD EARNINGS

 PEMBROKE PINES, Fla., Aug. 2 /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 second quarter of 1993.
 Net income for the second quarter of 1993 was $536,860 or $.29 per share (primary) as compared to last year's second quarter net income of $402,652 or $.23 per share (primary). Earnings increased by 33 percent, an all-time high for any quarter, and the fifth consecutive quarter of record earnings.
 During the first six months of 1993, Decorator Industries, Inc. achieved record net income of $1,014,614, an increase of 73 percent compared to $585,450 for the same period a year ago. Primary earnings per share increased to 54 cents from 33 cents the year earlier.
 William Bassett, president, stated: "Net sales for the six months were very strong, rising to $14,062,184 from $11,260,564 a year earlier, a 25 percent increase. In the second quarter, sales rose substantially to $7,305,484 from $6,427,221 in the prior year.
 "We are presently planning an addition to our Bloomsburg, Pa., plant to provide capacity to manufacture complementary window treatment products that have been requested by our customers. These products will broaden our product line sold to the recreational vehicle market and should enhance our ability to expand our customer base.
 "Because of the continued strength of the manufactured housing market, we have decided to build a new, larger facility in Bossier City, La., which will replace a building which we currently rent.
 "We believe that our markets will continue to perform well and that the actions we have taken to increase capacity will provide the basis for continued strong performance by the company. The company is well positioned for profitable growth. 1993 should be another record year."
 The board of directors, continuing its policy of paying a 20-cent annual dividend, declared the second quarterly dividend of 5 cents per share payable Sept. 15, 1993, to shareholders of record Aug. 30, 1993.
 The figures are as follows:
 DECORATOR INDUSTRIES, INC.
 Consolidated Report of Sales and Earnings(A)
 Period Ended Second Quarter Six Months
 7/3/93 6/27/92 7/3/93 6/27/92
 Net sales $7,305,484 $6,427,221 $14,062,184 $11,260,564
 Net income 536,860 402,652 1,014,614 585,450
 Total primary earnings
 per share(B) $0.29 $0.23 $0.54 $0.33
 Fully diluted earnings
 per share(B) $0.25 $0.20 $0.47 $0.30
 Average number of shares
 outstanding(B) 1,894,238 1,800,006 1,885,284 1,802,726
 (A) Unaudited
 (B) As adjusted for the 2-for-1 stock split effective April 22, 1993.
 -0- 8/2/93
 /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

CD-KC -- PG009 -- 8356 08/02/93 12:06 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:Aug 2, 1993
Words:507
Previous Article:COMSTOCK RESOURCES, INC. ANNOUNCES OIL AND GAS PROPERTY ACQUISITION
Next Article:CP&L CUSTOMERS SET ELECTRICITY DEMAND RECORDS
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters