Dorel Sees Sales, Profit Improvement

October 30, 2007  by in UnCategorized   

By Home Furnishings Business in Youth, Juvenile Furniture on October 2007 Montreal-based Dorel Industries, which produces juvenile products and various types of furniture, said Tuesday that revenue and net income were up slightly in the company’s third quarter.

Dorel, the parent company of Ameriwood, said sales for the quarter totaled $440.1 million, up from $436.3 million in the same period. Net income also rose slightly to $26.4 million from $25.1 million in 2006.

In home furnishings, revenue decreased 14.5 percent to $122.1 million, and adjusted earnings fell 28.3 percent to $9.3 million. The company said a restructuring program at Ameriwood, which manufacturers ready-to-assemble product, is contributing to a profitability improvement in the home furnishings sector.

“We are very pleased with the most recent quarter and are particularly encouraged that our juvenile segment is maintaining the overall growth pattern of the past three years,” said Dorel President and CEO Martin Schwartz.