Decorator Industries today (Nov. 16) reported an increase in sales and a dip in net income for the company’s third quarter, ended Oct. 2.
The Pembroke Pines, Fla., firm, which supplies interior furnishings to the RV, manufactured-home and hotel-motel industries, recorded third-quarter sales of $12.1 million compared with nearly $11 million during the same period in 2003.
For the first nine months of the year, sales were up 24% to $39.2 million, compared with sales of $31.5 million.
Net income for the quarter declined to $368,985 from $419,147 in 2003. For the nine months, net earnings were nearly $1.4 million compared with $1.2 million a year ago.
“Excluding sales related to the acquisition of Fleetwood’s (MH and RV) drapery operation, total sales were basically flat in the third quarter and up about 12% for the first nine months of 2004 compared to the respective year-ago periods,” Chairman William Bassett said. “Sales to our recreational vehicle customers increased approximately 11% in the third quarter and 30% for the first nine months of 2004 compared with the same periods a year ago, partially due to the acquired Fleetwood’s drapery operation.”