Decorator Industries Inc., a supplier of interior furnishings to the RV, manufactured home and hospitality industries, reported its third quarter earnings increased 76% to $372,500.
The Pembroke Pines, Fla.-based company’s earnings increased despite a 5% decline in sales during the three months ended Sept. 29 to $9.2 million.
However, during the first nine months of this year, Decorator’s earnings were down 28% to $609,600 and its sales were down 22% to $26.7 million.
Decorator Chairman William Bassett believes the RV, manufactured home and hospitality markets will face “difficult conditions” in the short term, but he maintains “a cautious but positive outlook for the remainder of the year.”
In response to current economic conditions, Decorator reduced its inventories and accounts receivable by over $2.6 million, or 24%, when compared with a year-ago, Bassett said.