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BRIEF-Dorel Industries Q1 Adj EPS Of $0.18 Excluding Items

Published 2019-05-10, 08:34 a/m
BRIEF-Dorel Industries Q1 Adj EPS Of $0.18 Excluding Items
DIIb
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May 10 (Reuters) - Dorel Industries Inc DIIb.TO :

* DOREL REPORTS FIRST QUARTER 2019 RESULTS

* Q1 ADJUSTED EARNINGS PER SHARE $0.18 EXCLUDING ITEMS

* Q1 LOSS PER SHARE $0.26

* Q1 REVENUE $625.6 MILLION VERSUS $642.3 MILLION

* DOREL INDUSTRIES - DOREL HOME CONTINUES TO INCREASE SALES VERSUS LAST YEAR AND MARGINS ARE EXPECTED TO IMPROVE IN SECOND HALF

* DOREL INDUSTRIES - EXPECTATIONS FOR DOREL SPORTS ARE FOR INCREASED REVENUES AND ADJUSTED OPERATING PROFIT FOR BOTH Q2 AND YEAR

* FOR DOREL JUVENILE, Q2 AND FULL YEAR REVENUES AND ADJUSTED OPERATING PROFIT ARE EXPECTED TO EXCEED PRIOR YEAR RESULTS

* DOREL INDUSTRIES - Q1 RESULTS ARE NOT INDICATIVE OF EXPECTATIONS FOR FULL YEAR WHICH IS FOR HIGHER SALES, IMPROVED ADJUSTED OPERATING PROFIT OVERALL

* ORGANIC REVENUE INCREASE IN QUARTER WAS APPROXIMATELY 9.9% EXCLUDING IMPACT OF FOREIGN EXCHANGE RATE CHANGES YEAR-OVER-YEAR

* DOREL INDUSTRIES - CERTAIN LINES OF BUSINESS HAVE BEEN IDENTIFIED TO BE EXITED IN CHILE, PERU, CERTAIN SENIOR MANAGEMENT POSITIONS TO BE CONSOLIDATED

* DOREL INDUSTRIES - CHINA DOMESTIC SALES ORGANIZATION IS EXITING UNPROFITABLE PRODUCT LINES AND CUSTOMER ARRANGEMENTS

* DOREL INDUSTRIES-COSTS RELATED TO DOREL JUVENILE RESTRUCTURING CURRENTLY ESTIMATED TO BE BETWEEN $25.0 & $30.0 MILLION, EXPECTED TO BE INCURRED IN 2019 & 2020

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