August 30, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — U.S. Home Systems, Inc. (NASDAQ: USHS), a provider of home improvement products, said that it has completed the sale of its Woodbridge, Virginia deck manufacturing facility. USHS ceased offering deck products in December 2008. USHS reported that proceeds from the sale were around $1.0 million after commissions, retirement of the mortgage on the property, including a prepayment fee of $73,000, and other related expenses.

Murray Gross, chairman and chief executive officer of the firm, said, “In the third quarter 2010, we will record a one-time loss on the sale of the facility of around $169,000 which includes the prepayment fee on the pay off of the mortgage.”

Gross added that, despite the one time charge, U.S. Home will recognize on-going annual savings. In 2009 the company said it incurred expenses of $167,000 related to the facility including property taxes, repairs, maintenance and interest on the mortgage.

U.S. Home said it plans to retain the proceeds generated from the transaction for on-going working capital purposes. The sale of this facility completes the company’s transition out of the deck business.

Texas-based U.S. Home Systems manufactures or procures, designs, sells and installs custom quality specialty home improvement products. The company's product lines include kitchen cabinet refacing products utilized in kitchen remodeling, bathroom tub liners and wall surround products utilized in bathroom remodeling, and storage organization systems for closets and garages.

The company manufactures its own cabinet refacing products and bathroom cabinetry.

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