DALLAS — U.S. Home Systems Inc., a manufacturer and distributor of cabinet refacing and home organization products, reported increases in both fourth quarter revenue and year-end income, while net income for the year more than doubled to $4.7 million. Full year income for 2011 was $164.9 million, up 18.7 percent from 2010.
U.S. Home Systems reported revenue of $38.7 million in the fourth quarter, up from $38 million in the fourth quarter of 2010. Net income for the quarter was $927,000.
U.S. Home Systems says its Martha Stewart Living refacing line developed during the fourth quarter of 2011 has been well received at Home Depot since a January 2012 launch, "due to the popularity and reputation for style and quality inherent in the Martha Stewart brand," according to Murray Gross, chairman and CEO.
U.S. Home Systems is also testing a new installed cabinet line, "Replacement Kitchen Remodeling," according to Gross, with a pilot program that launched last month in two Florida markets.
The program goes back to customers who inquired about refacing but didn't buy it. "We believe that these customers may be more interested in replacing their complete kitchen cabinetry rather than installing a refacing product," Gross says.
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