Dorel Posts Quarterly Results

August 1, 2007  by in UnCategorized   

By Home Furnishings Business in on August 2007 Dorel Inds. reported second quarter sales of $459 million, up 5.3 percent from $435.9 million posted during the same quarter last year.

Net income for the quarter was $10.8 million compared with $17.9 million during the same period last year.

Second quarter results include costs associated with previously announced restructuring activities at Dorel Europe and Ameriwood. Excluding the restructuring costs, adjusted net income for the second quarter was $19.8 million compared to $18.1 million in 2006.

Revenue for the six months was $914.7 million, compared to $886.9 million a year ago. Year-to-date net income was $38.8 million, compared to last year’s $42.1 million.

The company reported that home furnishings sales decreased 12 percent to $105.6 million from $120.1 million during the quarter last year.