DII Decorator Industries Inc. featured news, full reports, and detailed charts
Decorator Industries Inc. (DII) Wrap Up:
Decorator Industries, Inc. designs, manufactures, and sells a range of interior furnishings in the United States. It principally offers draperies, curtains, valance boards, shades, blinds, bedspreads, comforters, pillows, cushions, and camper tents. The company sells its products through distributors or directly to the original equipment manufacturers of recreational vehicles and manufactured housing, and to the hospitality industry, such as motels/hotels. Decorator Industries, Inc. was founded in 1953 and is based in Pembroke Pines, Florida.www.decoratorindustries.com
270 Employees
Founded in 1953
Decorator Industries Inc. (DII:AMEX)
LAST $0.85 USD
CHANGE TODAY +0.04 4.94%
VOLUME 5.9K
As of 3:53 PM 11/20/09 All times are local (Market data by Reuters is delayed by at least 15 minutes).
Snapshot of Decorator Industries Inc. (DII)
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OPEN
$0.82
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PREVIOUS CLOSE
$0.81
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DAY HIGH
$0.85
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DAY LOW
$0.77
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52 WEEK HIGH
10/7/09 - $1.35
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52 WEEK LOW
10/22/09 - $0.14
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MARKET CAP
2.6M
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AVERAGE VOLUME 3 mo
483.0
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DILUTED EPS TTM
$-0.93
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SHARES OUTSTANDING
3.0M
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DII Does Not Pay Dividends
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P/E TTM
NM
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DII Top Compensated Officers
No compensation data is available at this time for the top officers at this company.
Executives, Board Directors
Key developments for Decorator Industries Inc. (DII)
Decorator Industries Inc. Reports Unaudited and Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2009
11/17/2009
Decorator Industries Inc. reported earnings unaudited and consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the period, the company reported a net loss of $468,527 or $0.16 per basic and diluted share compared with a net loss of $407,290 or $0.14 per basic and diluted share in the third quarter of 2008. Net sales for the third quarter of fiscal 2009 were $4.5 million, down 52% from $9.3 million for the same period a year ago. Operating loss decline to $512,606 for the third quarter of 2009 compared to $635,466 in last year's third quarter. The operating loss was caused by the 52% drop in sales. The decline in sales offset the almost 5% improvement in the gross profit margin and $850,000 reduction in overhead costs compared to the third quarter of 2008. Loss before income tax for the third quarter was at $539,527 as against $659,290 reported for the same period last year. The net loss for the first nine months of fiscal 2009 was $2.1 million or $0.71 per basic and diluted share compared with a loss of $1.9 million or $0.66 per basic and diluted share for the same period a year ago. The fiscal 2009 loss includes a pre-tax charge of $900,000 or $0.30 per diluted share related to the scheduled consolidation of certain facilities and the impairment of assets compared to a pre-tax charge of $1,430,000 or $0.49 per diluted share for fiscal 2008. Net sales for the first nine months of fiscal 2009 were $15.3 million a decline of 53% from $32.4 million in the first nine months of 2008. Operating loss for the nine month period was at $2,882,498 as against $3,102,933 reported for the same period last year. Loss before income tax for the nine month period was at $2,966,637 as against $3,155,337 reported for the same period last year.
Decorator Industries Announces Loan Modification
10/6/2009
Decorator Industries Inc. announced that on September 30, 2009 the company negotiated a modification to its loan agreement with Wachovia Bank (a Wells Fargo company). The Modification Agreement extends the maturity date of the Loan Agreement to December 31, 2010, changes the interest rate to Prime Rate plus 2% and limits the outstanding balance to the lesser of $4 million or 75% of the appraised value of six of the Company's properties which are now unencumbered. Decorator expects the real estate appraisals to fully support the $4 million of availability. Wachovia Bank will secure repayment of the loan by collateralizing this real estate. Should any of this real estate be sold, the net proceeds will pay down the Loan and reduce the available loan limit dollar for dollar. In addition, the Loan Modification allows Decorator to establish an additional credit line with an asset-based lender using all of Decorator's accounts receivable and inventory as collateral. This should provide as much as $2 million of additional working capital availability.
Decorator Industries Inc. Announces Unaudited Earnings Results for the First Quarter Ended April 4, 2009
05/18/2009
Decorator Industries Inc. announced unaudited earnings results for the first quarter ended April 4, 2009. The company reported a net loss of $1,290,929, or $0.44 per diluted share for the first quarter ended April 4, 2009, compared to a net loss of $475,518 million, or $0.16 per diluted share in the same quarter one year ago. Net sales for the first quarter decreased 51% to $5,105,638 compared to $10,503,898 for the first quarter of 2008. The operating loss increased to $1,770,195 or 34.7% of net sales in 2009 from $757,866 or 7.2% of net sales in the first quarter of 2008. The increased loss was caused by a one-time $750,000 charge related to the company decision to discontinue the manufacturing of sewn goods for the RV industry as well as the significant reduction in total sales volume. The company reported loss before income taxes of $1,802,929 compared to $768,518 for the same period last year.
DII Competitors
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Industry Analysis
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| Price/Cash Flow | NM | Not Meaningful |
| TEV/Sales | NM | Not Meaningful |
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More Recent News About Decorator Industries Inc.
More news for DII
DECORATOR INDUSTRIES INC Files SEC form 10-Q, Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. Cautionary Statement: This Quarterly Report on Form 10-Q may contain statements relating to future events, including results of operations, that are considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent the Company's expectations or belief as to future events and, by their very nature, are subject to risks and uncertainties which may result in actual events differing materially from those anticipated. In particular, future operating results and future liquidity will be affected by the level of demand for recreational vehicles, manufactured housing and hotel/motel accommodations and may be affected by changes in general economic conditions, interest rate fluctuations, the Company's ability to retain or replace its line-of-credit availability, the availability of consumer credit, the availability of floor-plan credit for recreational vehicle and manufactured housing retail dealers, the availability of financing for manufacturers, fuel prices, competitive products and pricing pressures within the Company's markets, the Company's ability to contain its manufacturing costs and expenses, and other factors. Forward-looking statements by the Company speak only as of the date made, and the Company undertakes no obligation to update or revise such statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events. Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. (continued) In May 2006, the Company entered into a line-of-credit agreement with Wachovia Bank. The agreement with Wachovia provides for a revolving line of credit of up to $5,000,000, and expired on June 30, 2009. On June 26, 2009, Wachovia extended this agreement through September 30, 20...Click here to read the whole Article (external link)
DECORATOR INDUSTRIES INC Files SEC form 10-Q, Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. Cautionary Statement: This Quarterly Report on Form 10-Q may contain statements relating to future events, including results of operations, that are considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent the Company's expectations or belief as to future events and, by their very nature, are subject to risks and uncertainties which may result in actual events differing materially from those anticipated. In particular, future operating results and future liquidity will be affected by the level of demand for recreational vehicles, manufactured housing and hotel/motel accommodations and may be affected by changes in general economic conditions, interest rate fluctuations, the availability of consumer credit, the availability of floor-plan credit for recreational vehicle and manufactured housing retail dealers, the availability of financing for manufacturers, fuel prices, competitive products and pricing pressures within the Company's markets, the Company's ability to contain its manufacturing costs and expenses, and other factors. Forward-looking statements by the Company speak only as of the date made, and the Company undertakes no obligation to update or revise such statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events. Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. (continued) In May 2006, the Company entered into a line-of-credit agreement with Wachovia Bank. The agreement with Wachovia provides for a revolving line of credit of up to $5,000,000, and expires on June 30, 2009. The interest rate is LIBOR plus 150 basis points and the Company is required to maintain certain financial covenants. The 2007 loss caused the Company to viol...Click here to read the whole Article (external link)
DECORATOR INDUSTRIES INC Files SEC form 10-K, Annual Report
ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. OVERVIEW The Company provides interior furnishings to original equipment manufacturers of manufactured housing and recreational vehicles and to the hospitality market. This interior furnishing market is highly competitive. The Company faces risk as the demand for its products is affected by the industry demand in the three markets that the Company serves. Any significant decline in the demand for manufactured housing, recreational vehicles, or hospitality accommodations can adversely affect the Company's results of operations or financial condition. A large amount of the Company's sales are to a relatively few customers. In 2008, the Company's top 10 customers accounted for approximately 46.0% of net sales, as opposed to 54.5% in 2007. The loss of a large customer can have a significant impact on the Company's results of operations. On March 10, 2009, Fleetwood filed a Chapter 11 bankruptcy. The accounts receivable due from Fleetwood at the time of the filing was approximately $115,000 and was fully reserved for in the 2008 year-end allowance for doubtful accounts. Simultaneously with the bankruptcy filing, Fleetwood announced its intentions to close all of its remaining travel-trailer plants. The Company will continue to supply Fleetwood's manufactured housing and motor home businesses. The expected revenue from Fleetwood in 2009 will be significantly less than experienced in prior years. In the second quarter of 2008, the Company's management, recognizing its reduced level of business with Fleetwood, totally impaired the remainder of its identifiable intangible asset arising from the January 2004 supply agreement with Fleetwood. The Company faces the risk that its furnishings could be provided by companies with cheaper labor sources, such as from Asian sources. However, the lack of sufficient lead times from its customers, as well as the customized nature of many o...Click here to read the whole Article (external link)
DECORATOR INDUSTRIES INC Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements and
Show all filings for DECORATOR INDUSTRIES INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for DECORATOR INDUSTRIES INC 5-Mar-2009Results of Operations and Financial Condition, Financial Statements and Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information prov...Click here to read the whole Article (external link)
DECORATOR INDUSTRIES INC Files SEC form 10-Q, Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. The Quick Ratio and Working Capital position improved from year-end due to the reclassification of some real estate to Assets Held for Sale. In May 2006, the Company entered into a new line-of-credit agreement with Wachovia Bank. The agreement with Wachovia provides for a revolving line of credit of up to $5,000,000, and expires in June 2009. The interest rate is LIBOR plus 150 basis points and the Company is required to maintain certain financial covenants. The 2007 loss caused the Company to violate a financial covenant in its loan agreement with Wachovia Bank. The loan agreement states that the ratio of Senior Funded Debt to EBITDA may not exceed 2.75 to 1.00. The Company believes it is in compliance with all other conditions of the loan agreement. Wachovia has provided a waiver for this violation through the end of the third quarter of 2008. The waiver agreement changes the interest rate from LIBOR plus 150 basis points to LIBOR plus 275 basis points until the Company is in compliance with the covenant. The Company does not expect to be in compliance with the covenant by the end of the fourth quarter of 2008, unless it is able to sell its idled properties. At September 27, 2008, the Company had $2,636,000 in outstanding borrowings on its line-of-credit. The Company expects to use its line of credit throughout 2008. Wachovia advised the Company in July 2008 that the Bank would like to enter into a forbearance agreement during the remaining term of their commitment. To date, Wachovia has not delivered a forebearance agreement. Management believes that if the terms of the forbearance agreement are onerous or if Wachovia decides to accelerate repayment of the credit line that it has alternative sources of financing to replace the line with Wachovia. Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. (...Click here to read the whole Article (external link)
DECORATOR INDUSTRIES INC Financials
Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback Quotes delayed, except where indicated otherwise.Delay times are 15 mins for NASDAQ, 20 mins for NYSE and Amex. See also delay times for other exchanges.Fundamental company data provided by Capital IQ. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. Real-...Click here to read the whole Article (external link)
New Safety 1st Complete Air Car Seat With Air Protect(TM) Side Impact Technology Available Now, Exclusively At Babies"R"Us and Toys"R"Us Stores Nationwide
FOXBORO, Mass., Aug. 25 /PRNewswire/ -- Dorel Juvenile Group, Inc., a division of Dorel Industries (TSX: DII.B - News, DII.A - News), today announced that the highly anticipated Safety 1(st) Complete Air Car Seat with Air Protect(TM) is now available, exclusively this year at Babies"R"Us and Toys"R"Us stores nationwide and online at BabiesRUs.com/CompleteAirBabiesrus.com/CompleteAir. Featuring Air Protect(TM) technology, the most innovative and groundbreaking safety feature ever offered in a car seat, the seat is designed to protect children in side impact collisions by putting a layer of air protection where it's needed most - around the child's head. Side impact crashes have dramatically increased over the past two decades and are today the deadliest kind of crash for children, accounting for one in three child crash fatalities. The vast majority of these fatalities are due to head trauma, according to the ...Click here to read the whole Article (external link)
Decorator Industries Announces Loan Modification
PEMBROKE PINE, Fla., Oct. 6 /PRNewswire-FirstCall/ -- Decorator Industries, Inc. (AMEX: DII - News), announces that on September 30, 2009 the Company negotiated a modification to its loan agreement with Wachovia Bank (a Wells Fargo company). The Modification Agreement extends the maturity date of the Loan Agreement to December 31, 2010, changes the interest rate to Prime Rate plus two percent and limits the outstanding balance to the lesser of $4 million or seventy-five percent of the appraised value of six of the Company's properties which are now unencumbered. Decorator expects the real estate appraisals to fully support the $4 million of availability.Wachovia Bank will secure repayment of the loan by collateralizing this real estate. Should any of this real estate be sold, the net proceeds will pay down the Loan and reduce the available loan limit dollar for dollar.In addition, the Loan Modification allows Decorator to establish an additional credit line with an asset-based lender using all of Decorator's accounts receivable and inventory as collateral. This should provide as much as $2 million of additional working capital availability.William Johnson, President, stated:"I am pleased that we negotiated the best agreement available in such a difficult economic environment. I am confident that the modification provides the financial resources to successfully weather this economic storm. Now we must refocus our efforts on the long term profitability of Decorator Industries."...Click here to read the whole Article (external link)
DECORATOR INDUSTRIES INC Files SEC form 10-Q, Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. Cautionary Statement: This Quarterly Report on Form 10-Q may contain statements relating to future events, including results of operations, that are considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent the Company's expectations or belief as to future events and, by their very nature, are subject to risks and uncertainties which may result in actual events differing materially from those anticipated. In particular, future operating results and future liquidity will be affected by the level of demand for recreational vehicles, manufactured housing and hotel/motel accommodations and may be affected by changes in general economic conditions, interest rate fluctuations, the Company's ability to retain or replace its line-of-credit availability, the availability of consumer credit, the availability of floor-plan credit for recreational vehicle and manufactured housing retail dealers, the availability of financing for manufacturers, fuel prices, competitive products and pricing pressures within the Company's markets, the Company's ability to contain its manufacturing costs and expenses, and other factors. Forward-looking statements by the Company speak only as of the date made, and the Company undertakes no obligation to update or revise such statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events. Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. (continued) In September 2009, The Company modified its loan agreement with Wachovia Bank. The Modification Agreement extends the maturity date of the Loan Agreement to December 31, 2010, changes the interest rate to Prime Rate plus two percent and limits the outstanding balance to the lesser of ...Click here to read the whole Article (external link)
Decorator Industries Reports Third Quarter 2009 Results
PEMBROKE PINES, Fla., Nov. 17 /PRNewswire-FirstCall/ -- Decorator Industries, Inc. (Amex: DII - News) today announced its operating results for the third quarter ended, October 03, 2009. Decorator Industries, Inc. (AMEX-DII), a leading supplier of interior furnishings for the hospitality, manufactured housing ("MH") and recreational vehicle ("RV") industries, today reported a net loss of $468,527 or $0.16 per diluted share for the third quarter of fiscal 2009 compared with a net loss of $407,290 or $0.14 per diluted share in the third quarter of 2008. The net loss for the first nine months of fiscal 2009 was $2.1 million or $0.71 per diluted share compared with a loss of $1.9 million or $0.66 cents per diluted share for the same period a year ago. The fiscal 2009 loss includes a pre-tax charge of $900,000 or $0.30 per diluted share related to the scheduled consolidation of certain facilities and the impairment of assets compared to a pre-tax charge of $1,430,000 or $0.49 per diluted share for fiscal 2008.Net sales for the third quarter of fiscal 2009 were $4.5 million, down 52% from $9.3 million for the same period a year ago. Net sales for the first nine months of fiscal 2009 were $15.3 million a decline of 53% from $32.4 million in the first nine months of 2008.Sales to our Hospitality customers decreased 56% to $2.2 million in the third quarter of 2009 from $4.9 million in the third quarter a year ago. For the first nine months of 2009, Hospitality sales decreased by 39% to $8.4 million compared with $13.7 million...Click here to read the whole Article (external link)
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