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Dorel Net Falls 6.4%; Home Furnishings Profit Down 25.3%
May 10,
2012 by in UnCategorized 
By Aggregated Content in Financial Reports on May 11, 2012
from http://www.hfnmag.com/furniture/dorel-net-falls-64-percent-home-furnishings-profit-down-253-percent
In a rough start to its fiscal year, Dorel Inds. posted a 6.4 percent decline in net income in the first quarter, to $29.2 million.
This included a 25.3 percent plummet in operating profit in the companys home furnishings segment, to $5.8 million. Home furnishings revenues were off 5.1 percent to $130.7 million in the quarter, which ended on March 31.
A Dorel statement attributed this to reductions in sales of ready-to-assemble and folding furniture, along with the fact that the first quarter of last year saw strong results in shipments of initial customer rollouts.
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