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Decorator Industries report Q2 sales of $64,000
16 Aug '07
4 min read
Decorator Industries Inc announced its operating results for the second quarter ended June 30, 2007.
Decorator Industries Inc a supplier of interior furnishings for recreational vehicles manufactured housing and the lodging industry reported net income of $64,000 or 2 cents per diluted share for the second quarter of fiscal 2007 compared with net income of $313,000 or 10 cents per diluted share in the second quarter of 2006.
Sequentially, net income improved by $156,000 from the net loss of $92,000 reported in this year's first quarter.
Net loss for the first six months of fiscal 2007 was $28,000 or 1 cent per diluted share compared with a profit of $861,000 or 28 cents per diluted share for the same period a year ago. The severe contraction of the RV and MH markets continued to impact our sales and income.
Net sales for the second quarter of fiscal 2007 were $12,671,000 down 12% from $14,479,000 for the same period a year ago. Net sales for the first six months of fiscal 2007 were $24,919,000, a decline of 14% from $29,141,000 in the first half of 2006.
Mr. Bassett, Chairman, stated: "Sales to our RV customers decreased about 15% to $6,998,000 in the second quarter of fiscal 2007, compared with last year's sales for the same
period of $8,250,000."
"For the first six months of fiscal 2007 our RV sales decreased 17% to $14,383,000 compared with $17,377,000 for the same period a year ago. The RV industry reported a 10%decline in total shipments from the last year's second quarter, with towable shipments decreasing by 13% and motor home shipments increasing by 7%."
Decorator Industries Inc a supplier of interior furnishings for recreational vehicles manufactured housing and the lodging industry reported net income of $64,000 or 2 cents per diluted share for the second quarter of fiscal 2007 compared with net income of $313,000 or 10 cents per diluted share in the second quarter of 2006.
Sequentially, net income improved by $156,000 from the net loss of $92,000 reported in this year's first quarter.
Net loss for the first six months of fiscal 2007 was $28,000 or 1 cent per diluted share compared with a profit of $861,000 or 28 cents per diluted share for the same period a year ago. The severe contraction of the RV and MH markets continued to impact our sales and income.
Net sales for the second quarter of fiscal 2007 were $12,671,000 down 12% from $14,479,000 for the same period a year ago. Net sales for the first six months of fiscal 2007 were $24,919,000, a decline of 14% from $29,141,000 in the first half of 2006.
Mr. Bassett, Chairman, stated: "Sales to our RV customers decreased about 15% to $6,998,000 in the second quarter of fiscal 2007, compared with last year's sales for the same
period of $8,250,000."
"For the first six months of fiscal 2007 our RV sales decreased 17% to $14,383,000 compared with $17,377,000 for the same period a year ago. The RV industry reported a 10%decline in total shipments from the last year's second quarter, with towable shipments decreasing by 13% and motor home shipments increasing by 7%."
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