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From Home Furnishing Business
Dorel 3Q Income Leaps 75.4%
November 7,
2014 by in Financial Reports, Industry 
Dorel Inds. (TSX: DII.B) (TSX: DII.A) reported third quarter net income of $19.5 million for the period ended Sept. 30, a 75.4 percent increase from net income of $11.1 million for the same quarter last year.
The company's third quarter net sales were $673 million, a 10.8 percent increase over net sales of $607.3 million for the same quarter last year.
"Marking the third quarter were a number of positive highlights in all three segments," said Martin Schwartz, Dorel president and CEO. "Results were generally good across most of our juvenile divisions and this was despite the strength of the US dollar relative to last year reducing earnings by around US$4.0 million. Product development was showcased at two major juvenile trade shows and there is a substantial number of new product introductions scheduled for next year. There has been a great deal of activity associated with our newly-acquired facilities in China and Taiwan. We see the Lerado transaction as a game-changer for Dorel and there has been a team in place coordinating the integration changeover for several months."
The complete earnings release is available online.