DOREL INDUSTRIES $33.69

DOREL INDUSTRIES $33.69 (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: 4.6%) is up over 19% after reporting sharply higher profits in the latest quarter.

In the three months ended March 31, 2016, sales fell 2.9%, to $645.9 million from $665.5 million a year earlier (all figures except share price in U.S. dollars).

However, excluding one-time items, Dorel’s earnings per share jumped 66.7%, to $0.61 a share from $0.37. The improved profit comes from falling costs as the company moves production of its strollers and other baby items from North America and Europe to China. Investments in its ecommerce operations are also paying off, especially for its distribution network.

Dorel Industries is a buy.

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Blue chip stocks are big, well-established, dividend-paying corporations with strong business prospects. These are companies that also have sound management that should be able to make the right moves to keep competing successfully in a changing marketplace.

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