Home accents source Decorize posts 15.6% sales gain

But one-time charges lead to net loss of $371,460 in quarter

-- Furniture Today -- Home Accents Today, 11/19/2007 7:50:00 AM

Home accents producer Decorize said sales jumped 15.6% in its first quarter due to strong demand for many of its products. But the Springfield, Mo.-based company recorded a net loss of $371,460 due largely to several one-time charges.

Sales in the quarter ended Sept. 30 totaled $3.7 million, up from $3.2 million in the comparable period last year. The most recent quarter’s loss, which equals 1 cent per share, compares with a net loss of $312,470 in last year’s first quarter. On a per-share basis, last year’s loss also equals 1 cent per share because the company had about 1.3 million fewer shares outstanding a year ago.

One-time charges in the most recent quarter stemmed from an expansion of its factory in Indonesia, a new freight system, and a new credit line.