Decorize sales increase 50% in fiscal 1Q

The home accessory and accent furniture manufacturer and importer reported Nov. 15 that fiscal 2007 first-quarter sales increased 50 percent to $3.2 million. Sales were $2.1 million in the same period last year. That increase is mostly attributed to expanded capacity at the company’s wholly owned manufacturing facility in Indonesia, according to a Decorize news release.

The company reported a first-quarter operating loss of $186,000, a marked improvement from the $446,000 loss reported a year ago. Currency exchange rates and a one-time stock option expense accounted for $60,000 of the loss.

“Strong demand for our products has continued, and we anticipate solid revenue increases in the second quarter,” Decorize CEO Steve Crowder said in the release. “The improved financial results over the previous six quarters give us increasing confidence that Decorize is on course to demonstrate profitability in the near future.”

Shares (AMEX: DCZ) closed Nov. 15 at 40 cents, compared to a 52-week range of 17 cents to 81 cents.

This story originally appeared in SBJ’s Nov. 15 free e-news Daily Update. Click here to register.[[In-content Ad]]