Decorize reports third-quarter loss

Decorize Inc., a Springfield-based direct-sourcing firm for home furnishings, reported a 30 percent decrease in revenues from the previous quarter.

The company's third quarter ended March 31. Revenue for the quarter was $2,655,740.

Decorize reported a net loss before taxes of $819,654, excluding an employee stock compensation expense of $392,603.

For the nine-month period ending March 31, Decorize reported revenues of $9,370,387.

The company announced that orders have resumed strong growth, resulting in a record $9 million backlog.

Decorize CEO Jon Baker said in a press release: "We are extremely pleased that after a slow-down in the third quarter, our top-line has resumed its growth trend and we are now focused on producing bottom-line improvements over the next six months. With the present order flow, we remain confident that we will meet our year-end revenue projections of approximately $14.5 million."

The decrease in third-quarter revenues was attributed to a number of sources, including seasonality of the industry, a stock compensation expense and shipments that moved to the fourth quarter.

The quarterly report may be viewed at www.decorize.com.