Interior furnishings supplier Decorator Industries Inc. reported a 31% increase in first-quarter earnings, aided by hurricane-related sales to the recreational vehicle and manufactured housing industries.
During the quarter, ended April 1, the Pembroke Pines, Fla., company posted an 18% increase in sales to $14.7 million compared with $12.4 million a year ago while net income rose to $547,960 from $418,336.
Decorator Industries reported that first-quarter RV revenues grew 25% over the previous year to $9.1 million. The company said that 12% of RV sales were used for Emergency Living Units (ELUs) supplied to the Federal Emergency Management Agency (FEMA) for Gulf Coast hurricane victims.
“Although the Recreational Vehicle Industry Association (RVIA) is forecasting a decline in shipments this year, total industry shipments for the first quarter of 2006 were up over 15%,” said Chairman William Bassett.
“We believe that the increase in towable RV shipments in the first quarter of 2006 was partially due to retail dealer’s restocking of inventories that had been depleted by FEMA purchases after the hurricanes last year. We expect that both the RV and MH markets’ performance over the balance of 2006 will be more reflective of normal demand.”