DOREL INDUSTRIES $34.03 (Toronto symbol DII.B; TSINetwork Rating: Extra Risk) (514-934-3034; www. dorel.com; Shares outstanding: 32.3 million; Market cap: $1.1 billion; Dividend yield: 4.8%) makes a range of items: ready-to-assemble home and office furniture; juvenile products such as car seats, strollers, high chairs, toddler beds and cribs; and bicycles and other sporting goods.
In the first quarter ended March 31, 2017, sales rose only slightly, to $646.7 million from $645.9 million a year earlier (all figures except share price in U.S. dollars).
However, Dorel’s earnings, excluding one-time items, climbed 15.4%, to $22.7 million, or $0.70 a share, from $19.7 million, or $0.61.
The company’s operations in Brazil carry above-average currency and political risk. That includes Dorel’s 70% stake in Caloi, one of Brazil’s biggest bicycle makers. In addition, the company gets a high 30% of its overall revenue from Wal-Mart. That also carries risk.
However, Dorel continues to reduce its excess inventory. It also continues to drop unprofitable products and to cut jobs.
The stock…
Privacy Policy and Terms of Use
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Changes to this Policy
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