Dorel Industries posts profit of $6.6 million in fourth quarter

WESTMOUNT, Que. – WESTMOUNT, Quebec (AP) _ Dorel Industries Inc. (DIIBF) on Thursday reported fourth-quarter net income of $6.6 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Westmount, Quebec-based company said it had profit of 20 cents. Earnings, adjusted for one-time gains and costs, came to 43 cents per share.

The maker of bicycles, child safety products and home furnishings posted revenue of $668.9 million in the period.

For the year, the company reported net income of $25.7 million, or 79 cents per share, swinging to a profit in the period. Revenue was nearly unchanged at $2.68 billion.

Dorel Industries shares have decreased 6 per cent since the beginning of the year. The stock has declined 30 per cent in the last 12 months.


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Keywords: Dorel Industries, Earnings Report