Dorel posts slight overall sales gain for third quarter
But home furnishings sales drop 14.5%
By Furniture Today Staff -- Furniture Today, October 30, 2007
MONTREAL — Despite a 14.5% sales decline in its home furnishings segment, manufacturer and importer Dorel Inds. posted a slight gain in sales in the third quarter and higher earnings.
Sales of $440.1 million were up from $436.3 million in the same period a year ago, and earnings of $26.4 million were up 5.2% from $25.1 million. The company reports its results in U.S. dollars.
What helped the company was a strong performance in its juvenile products segment, with revenues up 10.6% to $236.8 million. A strong contributor to the segment was Dorel Europe, which posted higher unit sales and also was helped by the stronger euro.
In home furnishings, revenue of $122.2 million was down 14.5% from last year’s third quarter, and adjusted earnings from operations tumbled 28.3% to $9.3 million. For the year to date, revenue was down 11.7% to $350.3 million and adjusted earnings of $17.5 million were down 24.1%.
However, the third quarter was better than the second in the segment, Dorel said, with revenue in the latest period up 15.6% and adjusted earnings from operations up 64.1% from the period just prior. Restructuring at the Ameriwood ready-to-assemble furniture segment “is creating meaningful results, contributing to the segment’s profitability improvement,” the company said.
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Dorel furnishings segment sales decline 19.6% in 4Q
Mar 11, 2011 -
Dorel furnishings sales fall 19.6%
Mar 28, 2011 -
Dorel sales, profits climb
Mar 22, 2010 -
Home furnishings buoy Dorel sales, profit
Mar 12, 2010 -
Dorel 4Q income slips 3.9% despite sales gain
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