Dorel Industries, symbol DII.B on Toronto, makes a wide range of products: including bicycles; ready-to-assemble home and office furniture; juvenile products, such as car seats, strollers, high chairs, toddler beds and cribs (including Eddie Bauer and Disney Baby licensed products); home furnishings, including chairs, tables, bunk beds, futons and step stools; and recreational products.
Dorel is one of the Canadian stocks we analyze in Stock Pickers Digest, our newsletter that recommends the stocks for the part of your portfolio you devote to aggressive investing.
In the three months ended June 30, 2011, Dorel’s sales rose 1.9%, to $619.0 million from $607.7 million a year earlier (all figures except share price in U.S. dollars). The Canadian stock’s recreational/leisure division’s sales rose 15.9%, mainly on strong demand for bicycles. That offset lower sales in the other divisions.
The Canadian stock’s earnings per share fell 30%, to $0.70 from $1.00 a year earlier, due to rising shipping and raw material costs. The company didn’t pass on all of these price increases to consumers, due to continuing economic weakness in the U.S. and Europe.
The company holds cash of $24.6 million, or $0.66 a share. Its long-term debt of $328.2 million is a reasonable 41.9% of its $782.4 million market cap.
Dorel is a dividend paying stock. The Canadian stock’s annual rate of $0.59 a share yields 2.5%.
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