RV industry furniture supplier Decorator Industries Inc. reports its RV-related sales declined 4% during the three months ended July 1.
The company’s total sales declined 9% to $12.7 million during the second quarter primarily because of sharp declines in sales to manufactured housing and hospitality industry customers.
Decorator’s second quarter earnings declined 93% to $58,700 primarily due to a one-time-only charge after-tax charge of $438,700 for discontinued operations. Without the one-time charge, Decorator’s earnings were down 40% to $497,500.
During the first half of this year, Decorator’s total sales declined 4% to $25.8 million and its earnings were down 59% to $639,700.
“While sales in the RV market slowed recently, we are hopeful that lower gasoline prices, reductions in retail inventory and the recent introduction of new models will provide the impetus for improved sales,” added Decorator Chairman William Bassett.