Quarterly Profits Dip at Three D

Three D Departments Inc., operator of 25 housewares and decorative accessories stores, posted fiscal second-quarter net income of $169,516, or 7 cents a share, down 51% from the $345,765, or 14 cents a share, for the comparable quarter a year ago. Sales for the quarter ended Jan. 27 declined 6% to $13.9 million from $14.8 million. For the first six months of its fiscal year, the company posted a net loss of $188,067, or 8 cents a share, contrasted with net income of $211,697, or 8 cents a share, for the same period last year. Sales were down 2% to $26 million for the first half from $26.5 million. The company said the sales decline was caused partly by the closure of three stores during the second quarter. In addition, three stores were closed during the fiscal year that ended last July 29.

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