Dorel improves sales, but cuts benefits | Key4Communications | News

The manufacturer of baby products and bicycles, Dorel, improved its revenues in the first quarter, reaching $621.1 million and growing by 2.2% over the same period of 2011. However, profits fell 6.4% to $29.2 million, falling short of expectations.

The company explained that momentum is returning to its segment of juvenile products, which has recorded the best results in one year. This area grew by 12.7% in operating profit, while revenue remained unchanged at $269 million. As for the business of leisure and entertainment, including bicycles, the company reported record revenues and record of $21.4 million and $220.9 million respectively. The home furnishings area reported revenues of $130.7 million, down by 5% compared to same period last year.