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Dorel reports US$21.9M Q3 loss compared with US$10.4M loss a year ago, revenue down
MONTREAL — Dorel Industries Inc. reported its third-quarter loss in its latest quarter more than doubled compared with a year ago as its revenue edged lower.
The maker of furniture and baby gear, which keeps its books in U.S. dollars, says it lost US$21.9 million or 67 cents US per diluted share for the quarter ended Sept. 30.
The result compared with a loss of US$10.4 million or 32 cents US per diluted share in the same quarter last year.
Revenue totalled US$354.2 million, down from US$359.7 million a year ago.
Dorel chief executive Martin Schwartz said the company's home business faced significant challenges, resulting in a 14 per cent decline in revenue for the segment compared with the same period last year.
On an adjusted basis, Dorel says it lost 62 cents US per share in its latest quarter compared with an adjusted loss of 32 cents US per share in the same quarter last year.
This report by The Canadian Press was first published Nov. 14, 2024.
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