Decorize posts 1Q net loss

SBJ Staff

Posted online May 25, 2008 | 11:00 pm

Despite a reduction in expenses, a nearly 7 percent sales decline left Decorize Inc. with a first-quarter net loss, the Springfield company reported in a Securities and Exchange Commission filing May 14.

The furniture distributor had $3.6 million in net sales for the period that ended March 31, down from $3.9 million in the same quarter last year. Decorize’s specialty-retailer segment saw a $500,000 sales increase, but its large-retailer segment reported an $800,000 drop in sales.

Total cost of sales and expenses was down 9 percent to $3.7 million. Overall, Decorize reported a $116,000 net loss for the quarter.

“We believe that we have presented our products to only a small portion of a vast number of large- and medium-size retailers who would find our offerings attractive,” the company said in the report. “… We are implementing our plan to market our products to new customers, with the intent to develop a broader customer base and diminish the effect of one or more large retailers on our results of operations.”

Shares (OTC: DCZI.OB) closed May 13 at 15 cents, compared to a 52-week range of 14 cents to 61 cents.

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