SPRINGFIELD, Mo., Feb. 14, 2007 (PRIME NEWSWIRE) -- Decorize, Inc. (AMEX:DCZ), a recognized leader in the home accents industry, filed its fiscal 2007 second quarter and first half results with the Securities and Exchange Commission on Form 10-QSB today.
The company reported second quarter net income of $52,000 compared to an operating loss of $731,600 for the same period last year. Second quarter revenues were $4,500,000, up 180% versus the year ago quarter. In the first half of fiscal 2007, the company reported revenues of $7,680,000, an increase of 105% versus the first half of fiscal 2006, and an operating profit of $112,000 versus an operating loss a year ago of $1,040,900.
"We are pleased with our progress in building the leading vertically integrated home accents company," said Chief Executive Officer Steve Crowder. "The investments we have made over the last two years in our supply chain management are beginning to produce positive financial results, and we are excited about the prospects for Decorize as we look forward. The demand for the company's products continues to strengthen as evidenced by the triple digit growth in sales both in the quarter and first half of this year."
"The Decorize management team has worked extremely hard to create a profitable company," said President of Quest Capital Steve Fox. "We invested in Decorize because we believed that there was an opportunity in the fragmented home accent marketplace. The company's management team has implemented a global business model integrating design, manufacturing and logistics that is eliminating cost layers in the supply chain. Our investors are excited about the progress and value that has been created."
Decorize, Inc., founded in 2000, is a recognized leader in the home accents industry. The company has developed a vertically integrated design, sourcing and logistics model that reduces costs traditionally channeled into home furnishings. Decorize has served more than 3,000 small and large retail accounts, including national brand names such as Stein Mart, Broyhill Furniture Industries, Bombay Company, Home Depot, May/Federated Stores, Neiman Marcus, Rooms To Go, and Sears-The Great Indoors.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:Statements about the future performance of Decorize, economic trends, and other forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including and without limitation, continued acceptance of Decorize's products, increased levels of competition for the company, new products and technological changes, Decorize's dependence on third-party suppliers, and other risks detailed from time to time in Decorize's periodic reports filed with the Securities and Exchange Commission. Decorize provides no assurance regarding the actual outcome of the events contemplated by any forward-looking statements included in this release.