Decorize posts largest quarterly net profit

The home furnishings designer and manufacturer had a net profit of about $185,000 in the fourth quarter of fiscal 2008, compared to a net loss of $215,000 the same period a year ago, the company announced Aug. 25.

Gross margins for the quarter were up 900 basis points to 38 percent, from 29 percent a year ago.

“Our vertically integrated design, manufacturing and logistics model has allowed us to identify trends, develop product significantly faster than our competition and then shorten delivery schedules for customer orders,” CEO Steve Crowder said in a news release.

Chief Financial Officer Dan Graham agreed, adding that the fourth-quarter results are mainly attributed to improvements in the company’s supply chain.

“Through our wholly owned subsidiaries in China and Indonesia, we have been able to reduce production and logistics costs substantially,” Graham said in the release.

Decorize will complete its year-end audit and file an annual report in September.

Company shares (OTC BB: DCZI.OB) closed Wednesday at 11 cents, compared to a 52-week range of 7 cents to 49 cents.