UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

             [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

                  For the quarterly period ended March 30, 2002

                                       OR

             [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

Commission file number 1-7753

                           DECORATOR INDUSTRIES, INC.
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

     Pennsylvania                                             25-1001433
------------------------                                   ------------------
(State or other jurisdiction of                            (I.R.S. Employer
incorporation or organization)                              Identification No.)

10011 Pines Blvd., Suite #201, Pembroke Pines, Florida             33024
------------------------------------------------------        ---------------
    (Address of principal executive offices)                     (Zip Code)

Registrant's telephone number, including area code:  (954) 436-8909

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.

                                 Yes X      No
                                    ----      ----

Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.

          Title of each class                         Outstanding at May 3, 2002
          -------------------                         --------------------------
Common Stock, Par Value $.20 Per Share                         2,785,690










<PAGE>

                                  PART I - FINANCIAL INFORMATION

Item 1.   Financial Statements.
-------   ---------------------

                           DECORATOR INDUSTRIES, INC.
                                 BALANCE SHEETS

<TABLE>
<CAPTION>
                                                                    March 30, 2002  Dec. 29, 2001
                                                                    --------------  -------------
                                  ASSETS                               (UNAUDITED)
                                  ------
<S>                                                                   <C>            <C>
CURRENT ASSETS:
    Cash and Cash Equivalents                                         $ 2,890,681    $ 2,319,568
    Accounts Receivable, less allowance for
        Doubtful accounts ($234,253 and $221,462)                       3,532,281      3,525,377
    Inventories                                                         3,612,895      3,789,665
    Other Current Assets                                                  362,167        327,784
                                                                      -----------    -----------
TOTAL CURRENT ASSETS                                                   10,398,024      9,962,394
                                                                      -----------    -----------
Property and Equipment:
    Land, Buildings & Improvements                                      4,241,458      4,240,777
    Machinery, Equipment, Furniture and Fixtures                        5,236,491      5,212,066
                                                                      -----------    -----------
Total Property and Equipment                                            9,477,949      9,452,843
    Less:  Accumulated Depreciation and Amortization                    4,197,528      4,045,789
                                                                      -----------    -----------
Net Property and Equipment                                              5,280,421      5,407,054
                                                                      -----------    -----------
Goodwill                                                                2,731,717      2,731,717
Other Assets                                                              295,411        264,351
                                                                      -----------    -----------
TOTAL ASSETS                                                           18,705,573     18,365,516
                                                                      ===========    ===========

LIABILITIES & STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
    Accounts Payable                                                  $ 2,406,009    $ 2,102,730
    Current Maturities of Long-term Debt                                  110,843        105,441
    Accrued Expenses:
        Income taxes                                                      149,006         39,518
        Compensation                                                      622,800        764,305
        Other                                                             772,025        876,327
                                                                      -----------    -----------
TOTAL CURRENT LIABILITIES                                               4,060,683      3,888,321
                                                                      -----------    -----------
Long-Term Debt                                                          1,572,677      1,604,245
Deferred Income Taxes                                                     436,000        409,000
                                                                      -----------    -----------
TOTAL LIABILITIES                                                       6,069,360      5,901,566
                                                                      -----------    -----------
Stockholders' Equity Common stock $.20 par value:
      Authorized shares, 10,000,000; Issued shares, 4,485,635             897,127        897,127
    Paid-in Capital                                                     1,425,501      1,425,437
    Retained Earnings                                                  18,521,485     18,300,698
                                                                      -----------    -----------
                                                                       20,844,113     20,623,262
    Less:  Treasury stock, at cost: 1,678,516 and 1,669,948 shares      8,207,900      8,159,312
                                                                      -----------    -----------
TOTAL STOCKHOLDERS' EQUITY                                             12,636,213     12,463,950
                                                                      -----------    -----------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                             18,705,573     18,365,516
                                                                      ===========    ===========

             The accompanying notes are an integral part of the financial statements.
</TABLE>

                                                1

<PAGE>

<TABLE>
<CAPTION>

                                    DECORATOR INDUSTRIES, INC.
                                      STATEMENTS OF EARNINGS
                                           (UNAUDITED)

                                                         FOR THIRTEEN WEEKS ENDED:
                                        ------------------------------------------------------
                                                 March 30, 2002            March 31, 2001
                                                 --------------            --------------


<S>                                     <C>                <C>         <C>            <C>
Net Sales                               $ 8,918,133        100.00%     $ 8,052,955    100.00%
Cost of Products Sold                     7,013,399         78.64%       6,587,384     81.80%
                                        -----------                    -----------
Gross Profit                              1,904,734         21.36%       1,465,571     18.20%
Selling and Administrative Expenses       1,404,517         15.75%       1,539,739     19.12%
                                        -----------                    -----------
Operating Income (Loss)                     500,217          5.61%         (74,168)    -0.92%
Other Income (Expense):
    Interest and Investment Income           12,694          0.14%           3,917      0.05%
    Interest Expense                         (7,770)        -0.09%         (23,483)    -0.29%
                                        -----------                    -----------
Earnings (Loss) Before Income Taxes         505,141          5.66%         (93,734)    -1.16%
Provision for Income Taxes (Benefit)        200,000          2.24%         (25,000)    -0.31%
                                        -----------                    -----------
NET EARNINGS (LOSS)                         305,141          3.42%         (68,734)    -0.85%
                                        ===========                    ===========

EARNINGS PER SHARE:

    Basic                                     $0.11                         $(0.02)
                                              =====                        =======
    Diluted                                   $0.11                         $(0.02)
                                              =====                        =======

Weighted-Average Number of Shares Outstanding:
    Basic                                 2,812,826                      2,793,772
    Diluted                               2,820,594                      2,825,352
</TABLE>


    The accompanying notes are an integral part of the financial statements.

                                       2
<PAGE>


                                     DECORATOR INDUSTRIES, INC.
                                      STATEMENTS OF CASH FLOWS
                                            (UNAUDITED)
<TABLE>
<CAPTION>

                                                                        FOR THIRTEEN WEEKS ENDED:
                                                                     March 30, 2002   March 31, 2001
                                                                     --------------   ------------
CASH FLOWS FROM OPERATING ACTIVITIES:
<S>                                                                    <C>             <C>
    Net Earnings (Loss)                                                $   305,141     ($   68,734)
    Adjustments to Reconcile Net Earnings (Loss) to Net Cash
        Provided by Operating Activities:
            Depreciation and amortization                                  159,165         189,274
            Provision for Losses on Accounts Receivable                     12,500          37,000
            Deferred Taxes                                                  22,000          47,000
            Loss on Disposal of Assets                                          --              42
            (Increase) Decrease from Changes in Accounts Receivable        (19,404)       (151,494)
            (Increase) Decrease from Changes in Inventories                176,770         573,380
            (Increase) Decrease from Changes in Prepaid Expenses           (29,383)       (289,610)
            (Increase) Decrease from Changes in Other Assets               (31,060)       (231,519)
             Increase (Decrease) from Changes in Accounts Payable          303,279         266,932
             Increase (Decrease) from Changes in Accrued Expenses         (136,319)       (203,054)
                                                                       -----------     -----------
NET CASH PROVIDED BY OPERATING ACTIVITIES                                  762,689         169,217
                                                                       -----------     -----------
CASH FLOWS FROM INVESTING ACTIVITIES:
    Capital Expenditures                                                   (32,532)        (64,309)
                                                                       -----------     -----------
NET CASH USED IN INVESTING ACTIVITIES                                      (32,532)        (64,309)
                                                                       -----------     -----------
CASH FLOWS FROM FINANCING ACTIVITIES:
    Long-term Debt Payments                                                (26,165)        (25,906)
    Dividend Payments                                                      (84,355)        (83,794)
    Issuance of Stock for Directors' Compensation                           10,000          10,000
    Purchase of Common Stock for Treasury                                  (58,524)             --
                                                                       -----------     -----------
NET CASH USED IN FINANCING ACTIVITIES                                     (159,044)        (99,700)
Net Increase in Cash and Cash Equivalents
Cash and Cash Equivalents at Beginning of Year                             571,113           5,208
                                                                         2,319,568         307,819
                                                                       -----------     -----------
CASH AND CASH EQUIVALENTS AT END OF PERIOD                             $ 2,890,681     $   313,027
                                                                       ===========     ===========
Supplemental Disclosures of Cash Flow Information:
Cash Paid for:
    Interest
                                                                       $     7,873     $    21,493
    Income Taxes

                                                                       $    68,721     $    33,217
</TABLE>

    The accompanying notes are an integral part of the financial statements.

                                       3
<PAGE>

                           DECORATOR INDUSTRIES, INC.
                          NOTES TO FINANCIAL STATEMENTS
             THIRTEEN WEEKS ENDED MARCH 30, 2002 AND MARCH 31, 2001
                                   (UNAUDITED)

NOTE 1.  In the opinion of management, the accompanying unaudited financial
         statements contain all adjustments necessary to present fairly the
         Company's financial position as of March 30, 2002, the changes therein
         for the thirteen week period then ended and the results of operations
         for the thirteen week periods ended March 30, 2002 and March 31, 2001.

NOTE 2.  The financial statements included in the Form 10-Q are presented in
         accordance with the requirements of the form and do not include all of
         the disclosures required by accounting principles generally accepted
         within the United States of America. For additional information,
         reference is made to the Company's annual report on Form 10-K for the
         year ended December 29, 2001. The results of operations for the
         thirteen week periods ended March 30, 2002 and March 31, 2001 are not
         necessarily indicative of operating results for the full year.

NOTE 3.  INVENTORIES

         Inventories at March 30, 2002 and December 29, 2001 consisted of the
         following:

                            March 30, 2002  December 29, 2001
                            --------------  -----------------
         Raw Material
         and Supplies           $3,289,399         $3,475,824
         In Process and
         Finished Goods            323,496            313,841
                                ----------         ----------
         Total Inventory        $3,612,895         $3,789,665
                                ==========         ==========

NOTE 4.  EARNINGS PER SHARE

         Basic earnings per share is computed by dividing net income by
         weighted-average number of shares outstanding. Diluted earnings per
         share includes the dilutive effect of stock options. In accordance with
         SFAS No. 128, the following is a reconciliation of the numerators and
         denominators of the basic and diluted EPS computations.

                                             March 30, 2002   March 31, 2001
                                             --------------   --------------
         Numerator:
             Net earnings (loss)              $   305,141      ($   68,734)
                                              ===========      ===========
         Denominator:
             Weighted-average number of
             common shares outstanding          2,812,826        2,793,772

             Dilutive effect of

             stock options on net income            7,768           31,580
                                              -----------      -----------

                                                2,820,594        2,825,352
                                              ===========      ===========

         Diluted earnings per share:          $      0.11      $     (0.02)
                                              ===========      ===========


                                       4
<PAGE>


                           DECORATOR INDUSTRIES, INC.
                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
             THIRTEEN WEEKS ENDED MARCH 30, 2002 AND MARCH 31, 2001
                                   (UNAUDITED)

NOTE 5.  ADOPTION OF STATEMENT 142
         -------------------------

         In accordance with SFAS No. 142, "Goodwill and Other Intangible
         Assets", in the period of initial application and thereafter, goodwill
         amortization expense is to be excluded from net earnings, as
         illustrated in the following reconciliation.
<TABLE>
<CAPTION>
                                                       March 30, 2002  March 31, 2001
                                                       --------------  --------------
<S>                                                     <C>              <C>
         Reported net earnings (loss)                   $   305,141      ($  68,734)
         Add back: goodwill amortization (after tax)             --          21,411
                                                        -----------      ----------
         Adjusted net earnings (loss)                   $   305,141      ($  47,323)
                                                        ===========      ==========
         Basic earnings per share
            Reported net earnings (loss)                $      0.11      $    (0.02)
            Goodwill amortization                                --             .01
                                                        -----------      ----------
            Adjusted net earnings (loss)                $      0.11      $    (0.01)
                                                        ===========      ==========
         Diluted earnings per share
            Reported net earnings (loss)                $      0.11      $    (0.02)
            Goodwill amortization                                --             .01
                                                        -----------      ----------
            Adjusted net earnings (loss)                $      0.11      $    (0.01)
                                                        ===========      ==========
</TABLE>


                                       5
<PAGE>


Item 2.  Management's Discussion and Analysis of Financial Condition and Results
         of Operations.

CAUTIONARY STATEMENT: THIS QUARTERLY REPORT ON FORM 10-Q MAY CONTAIN STATEMENTS
RELATING TO FUTURE EVENTS, INCLUDING RESULTS OF OPERATIONS, THAT ARE CONSIDERED
"FORWARD-LOOKING STATEMENTS" WITHIN THE MEANING OF THE PRIVATE SECURITIES
LITIGATION REFORM ACT OF 1995. FORWARD-LOOKING STATEMENTS REPRESENT THE
COMPANY'S EXPECTATIONS OR BELIEF AS TO FUTURE EVENTS AND, BY THEIR VERY NATURE,
ARE SUBJECT TO RISKS AND UNCERTAINTIES WHICH MAY RESULT IN ACTUAL EVENTS
DIFFERING MATERIALLY FROM THOSE ANTICIPATED. IN PARTICULAR, FUTURE OPERATING
RESULTS AND FUTURE LIQUIDITY WILL BE AFFECTED BY THE LEVEL OF DEMAND FOR
RECREATIONAL VEHICLES, MANUFACTURED HOUSING AND HOTEL/MOTEL ACCOMMODATIONS AND
MAY BE AFFECTED BY CHANGES IN ECONOMIC CONDITIONS, INTEREST RATE FLUCTUATIONS,
COMPETITIVE PRODUCTS AND PRICING PRESSURES WITHIN THE COMPANY'S MARKETS, THE
COMPANY'S ABILITY TO CONTAIN ITS MANUFACTURING COSTS AND EXPENSES, AND OTHER
FACTORS. FORWARD-LOOKING STATEMENTS BY THE COMPANY SPEAK ONLY AS OF THE DATE
MADE, AND THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE OR REVISE SUCH
STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE
OCCURRENCE OF UNANTICIPATED EVENTS.

FINANCIAL CONDITION
-------------------

The Company's financial condition, as measured by the following ratios,
continues to be strong at the end of the First Quarter 2002.

                                              March 30, 2002   December 29, 2001
                                             ----------------   --------------
                  Current Ratio                     2.56              2.56
                  Quick Ratio                       1.67              1.59
                  LT Debt to Total Capital         11.07%            11.40%
                  Working Capital               $6,337,341        $6,074,073

Days sales outstanding in accounts receivable were 35.2 days at March 30, 2002
compared to 38.9 days at March 31, 2001, and accounts receivable increased by
0.2%. Inventories decreased by 4.7% during the quarter.

Management does not foresee any events which will adversely affect its liquidity
during 2002. At the quarter end, the Company had no borrowings against its
$5,000,000 revolving line of credit. With the available borrowing capacity and
the Company's cash balances, the financial condition is more than adequate to
finance internal growth and the acquisitions of businesses.


                                       6

<PAGE>


Item 2.


Management's Discussion and Analysis of Financial Condition and Results of
Operations. (continued)


RESULTS OF OPERATIONS
---------------------

The following tables show the percentage relationship to net sales of certain
items in the Company's Statement of Earnings:

                                             First       First
                                            Quarter     Quarter
                                              2002        2001
                                            --------    --------
                 Earnings Ratios
                 ---------------
         Net sales                           100.0%     100.0%
         Cost of products sold                78.6       81.8

         Selling and administrative           15.8       19.1
         Interest and investment income       (0.1)      (0.1)
         Interest expense                      0.1        0.3
         Income taxes (benefit)                2.2       (0.3)
         Net earnings (loss)                   3.4       (0.8)


THIRTEEN WEEK PERIOD ENDED MARCH 30, 2002, (FIRST QUARTER 2002) COMPARED TO
THIRTEEN WEEK PERIOD ENDED MARCH 31, 2001, (FIRST QUARTER 2001)

Net sales for the First Quarter 2002 were $8,918,133, compared to $8,052,955 for
the same period in the previous year, a 10.7% increase. The Company experienced
increased sales in the recreational vehicle and manufactured housing markets,
while sales decreased in the hospitality market.

Cost of products sold decreased to 78.6% in the First Quarter 2002 compared to
81.8% a year ago. This improvement was the result of better material utilization
and improved labor efficiencies.

Selling and administrative expenses were $1,404,517 in the First Quarter 2002
versus $1,539,739 in the First Quarter 2001. This decrease resulted from a
reduction in the administrative workforce, lower commissions from reduced
hospitality sales, and the change in accounting for goodwill (see Note 5).

Interest expense decreased to $7,770 in the First Quarter 2002 from $23,483 in
the First Quarter 2001 because of reduced borrowings and lower interest rates.

Net income increased to $305,141 in the First Quarter of 2002 compared to a net
loss of $68,734 in the First Quarter of 2001. This increase is largely the
result of increased sales, better material utilization, improved labor
efficiencies and reduced administrative expenses.

                                       7

<PAGE>


                           PART II - OTHER INFORMATION

Item 6.   Exhibits and Reports on Form 8-K.

         (a)      Exhibits:
                  ---------

                           None.


         (b)      No reports on Form 8-K were filed by the Company during the
                  quarterly period ended March 30, 2002.



                                       8
<PAGE>


                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                          DECORATOR INDUSTRIES, INC.
                                                          (Registrant)



              Date: May 13, 2002          By: /s/  William A. Bassett
                    ------------              -------------------------
                                                   William A. Bassett, President

              Date: May 13, 2002          By: /s/  Michael K. Solomon
                    ------------              -------------------------
                                                   Michael K. Solomon, Treasurer


                                       9