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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G
                    Under the Securities Exchange Act of 1934
                               (Amendment No. 1 )*

                           DECORATOR INDUSTRIES, INC.
- -------------------------------------------------------------------------------
                                (Name of Issuer)

                                  COMMON STOCK
- -------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                    243631207
- -------------------------------------------------------------------------------
                                 (CUSIP Number)

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the 
Notes).


CUSIP No. 243631207
- -------------------------------------------------------------------------------
1        NAMES OF REPORTING PERSONS
         S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
         Laifer Capital Management, Inc.
- -------------------------------------------------------------------------------
2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
         (See Instructions)                                             (a) |_|
                                                                        (b) |_|
- -------------------------------------------------------------------------------
3        SEC USE ONLY

- -------------------------------------------------------------------------------
4        CITIZENSHIP OR PLACE OF ORGANIZATION
         Delaware
- -------------------------------------------------------------------------------
                      5      SOLE VOTING POWER
                             0
     NUMBER OF        ---------------------------------------------------------
       SHARES         6      SHARED VOTING POWER                               
    BENEFICIALLY             0                                                 
      OWNED BY        ---------------------------------------------------------
        EACH          7      SOLE DISPOSITIVE POWER                            
     REPORTING               0                                                 
       PERSON         ---------------------------------------------------------
        WITH          8      SHARED DISPOSITIVE POWER                          
                             0                                                 
- -------------------------------------------------------------------------------
9        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
         0
- -------------------------------------------------------------------------------
10       CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
         (See Instructions)                                                 |_|
- -------------------------------------------------------------------------------
11       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
         0%
- -------------------------------------------------------------------------------
12       TYPE OF REPORTING PERSON (See Instructions)
         CO, IA
- -------------------------------------------------------------------------------



Item 1.  (a) Name of Issuer:
             Decorator Industries, Inc.

         (b) Address of Issuer's Principal Executive Offices or, if none,
             Residence:
             10011 Pines Blvd.
             Suite 201
             Pembroke Pines, Florida 33024

Item 2.  (a) Name of Person Filing:
             Laifer Capital Management, Inc.

         (b) Address of Principal Business Office or, if none, Residence:
             45 West 45th Street
             New York, New York 10036

         (c) Citizenship:
             Delaware

         (d) Title of Class of Securities:
             Common Stock

         (e) CUSIP Number:
             243631207

Item 3.  If this statement is being filed pursuant to Rule 13d-1(b), or
         13d-2(b), check whether the person filing is an:

         (a)[ ] Broker or Dealer registered under Section 15 of the Act
         (b)[ ] Bank as defined in section 3(a)(6) of the Act
         (c)[ ] Insurance Company as defined in section 3(a)(19) of the Act
         (d)[ ] Investment Company registered under section 8 of the Investment
                Company Act
         (e)[x] Investment Adviser registered under section 203 of the
                Investment Advisers Act of 1940 
         (f)[ ] Employee Benefit Plan, Pension Fund which is subject to the
                provisions of the Employee Retirement Income Security Act of
                1974 or Endowment Fund; see 13d-1(b)(1)(ii)(F) 
         (g)[ ] Parent Holding Company, in accordance with 13d-1(b)(ii)(G)
                (Note: See Item 7)
         (h)[ ] Group, in accordance with 13d-1(b)(1)(ii)(H)



Item 4.  Ownership:

         (a) Amount Beneficially Owned:0

         (b) Percent of Class:0%

         (c) Number of Shares as to which such person has:

             (i) sole power to vote or direct the vote - 0

             (ii) shared power to vote or direct the vote - 0

             (iii) sole power to dispose or direct the disposition of - 0

             (iv) shared power to dispose or direct the disposition of - 0

Item 5.  Ownership of Five Percent or Less of a Class: Not Applicable

Item 6.  Ownership of More than Five Percent on Behalf of Another Person:
         Not Applicable

Item 7.  Identification and Classification of the Subsidiary Which Acquired the
         Security Being Reported on by the Parent Holding Company:
         Not Applicable

Item 8.  Identification and Classification of Members of the Group:
         Not Applicable

Item 9.  Notice of Dissolution of Group: Not Applicable

Item 10. Certification:

               By signing below I certify that, to the best of my knowledge and
               belief, the securities referred to above were acquired in the
               ordinary course of business and were not acquired for the purpose
               of and do not have the effect of changing or influencing the
               control of the issuer of such securities and were not acquired in
               connection with or as a participant in any transaction having
               such purpose or effect.



Signature

               After reasonable inquiry and to the best of my knowledge and
               belief, I certify that the information set forth in this
               statement is true, complete and correct.


                                               LAIFER CAPITAL MANAGEMENT, INC.

                                               BY: /s/ Lance Laifer
                                                   ----------------------------
Dated: April 10, 1997                              Lance Laifer
                                                   President