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Decorator Industries net income for Q3 rises 18%
28 Nov '05
2 min read
US based home furnishing maker Decorator Industries Inc announced results for the three and nine month periods ending October 1, 2005.
Third quarter 2005 net sales were $12,597,173 compared to $12,123,515 for the same period a year ago. Net sales for the first nine months of 2005 were $38,304,507 compared with $39,236,393 in 2004.
Net income for third quarter of 2005 was $347,052 or 12 cents per diluted share compared with $295,020 or 10 cents per diluted share in last year's third quarter. Net income for the first nine months of fiscal 2005 was $1,006,705 or 34 cents per diluted share compared with $1,034,516 or 35 cents per diluted share for the same period a year ago.
Bassett, Chairman, stated:
"The change in sales for both the quarter and nine month period of 2005 was due to a decline in sales to our RV customers offset by increased sales to both our MH and Hospitality customers.
Sales to our RV customers declined by $588,000 and $3,179,000 respectively for the third quarter and nine month periods of 2005 compared with the same periods a year ago. Our customers directly related the reduction in our RV sales to lower production of travel trailers and motor homes.
"Gross profit for the third quarter of 2005 increased by just over $100,000 from last year's third quarter, primarily driven by the increase in sales. Selling and administrative expenses for the third quarter increased by approximately $44,000 from a year ago, largely due to higher selling expenses related to the increased hospitality sales.
Third quarter 2005 net sales were $12,597,173 compared to $12,123,515 for the same period a year ago. Net sales for the first nine months of 2005 were $38,304,507 compared with $39,236,393 in 2004.
Net income for third quarter of 2005 was $347,052 or 12 cents per diluted share compared with $295,020 or 10 cents per diluted share in last year's third quarter. Net income for the first nine months of fiscal 2005 was $1,006,705 or 34 cents per diluted share compared with $1,034,516 or 35 cents per diluted share for the same period a year ago.
Bassett, Chairman, stated:
"The change in sales for both the quarter and nine month period of 2005 was due to a decline in sales to our RV customers offset by increased sales to both our MH and Hospitality customers.
Sales to our RV customers declined by $588,000 and $3,179,000 respectively for the third quarter and nine month periods of 2005 compared with the same periods a year ago. Our customers directly related the reduction in our RV sales to lower production of travel trailers and motor homes.
"Gross profit for the third quarter of 2005 increased by just over $100,000 from last year's third quarter, primarily driven by the increase in sales. Selling and administrative expenses for the third quarter increased by approximately $44,000 from a year ago, largely due to higher selling expenses related to the increased hospitality sales.
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