Decorator Industries Inc., interior furnishings supplier to the recreational vehicle and manufactured housing industries, reported the third consecutive year of improved earnings and sales.
The Pembroke Pines, Fla-based company reported net income for the fiscal year, ended Jan. 1, was $1.7 million compared with just under $1.6 million in fiscal 2003. Net income for the fourth quarter was $315,195, down slightly from $336,828 the previous year.
Net sales for the year increased 21% to $50.4 million compared with $41.8 million in 2003 while revenues for the quarter grew to $11.2 million versus $10.2 million the year prior.
“Sales to our recreational vehicle customers increased 21% in fiscal 2004 and decreased about 5% in the fourth quarter compared with the same period a year ago, partially due to the acquired Fleetwood sewing operation,” stated Chairman William Bassett.
Bassett noted that the firm had expanded capacity during the past year, including the purchase in August of a manufacturing facility in Phoenix, Ariz., for approximately $1.5 million.
“The Phoenix facility, in addition to better servicing our current customers, should provide a platform to significantly expand our business in the western part of the United States.” Bassett said. “Also, during the first quarter of the year, we spent $332,920 on a building addition that increased the capacity of our Elkhart, Ind., pleated shade facility by 50%.”