Decorize posts first full-year profit

Has net earnings of $9,000 in fiscal year

Heath E. Combs -- Furniture Today, November 4, 2009

SPRINGFIELD, Mo. — Home furnishings and accessories supplier Decorize, which does business under the Guildmaster brand, has reported its first full-year profit in company history.

Decorize, which also does business online as Decorize.com, was founded in 2000.

The company said it posted operating income of $307,000 in its fiscal year ended June 30, up from $15,000 a year ago. It had net income of $9,000 compared with a net loss of $585,000 last year.

Decorize said its gross margin rose to 40.9%, from 34.4% in the last fiscal year.

"The home furnishings industry has been hit hard by the recent drop in consumer spending. Posting record earnings during these challenging times is a testament to the company's management and vertically integrated business model," Rick Chalker, a Decorize board member, said in a press release.

Decorize, which owns manufacturing facilities in Indonesia and China, also said it had a successful High Point Market, and that the company is aiming to double its operating income in 2010.