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BRIEF-Dorel Industries Reports Q4 Adj EPS Of $0.31

Published 2019-03-14, 08:33 a/m
© Reuters.  BRIEF-Dorel Industries Reports Q4 Adj EPS Of $0.31
DIIb
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March 14 (Reuters) - Dorel Industries Inc DIIb.TO :

* DOREL REPORTS Q4 AND 2018 YEAR-END RESULTS

* Q4 ADJUSTED EARNINGS PER SHARE $0.31

* Q4 LOSS PER SHARE $13.68

* Q4 REVENUE ROSE 1 PERCENT TO $683.5 MILLION

* DOREL SPORTS AFFECTED BY SLOWER THAN EXPECTED HOLIDAY CONSUMER DEMAND

* US$501.4 MILLION NON-CASH IMPAIRMENT CHARGE BEING RECORDED

* ANNUAL DIVIDEND BEING ADJUSTED TO US$0.60

* DOREL IS IN PROCESS OF LAUNCHING A COMPREHENSIVE GLOBAL RESTRUCTURING PROGRAM

* DOREL INDUSTRIES -AS PART OF RESTRUCTURING PROGRAM, UNDERTAKING COMPREHENSIVE REVIEW OF GLOBAL FOOTPRINT, INCLUDING ASSETS WITHIN EACH BUSINESS SEGMENT

* AS AN IMMEDIATE RESULT OF REVIEW, DOREL HAS DIVESTED FROM ITS JUVENILE DISTRIBUTION OPERATIONS BASED IN COLOMBIA AND PANAMA

* REVIEWING ITS REFINANCING OPTIONS WITH ITS FINANCIAL ADVISORS

* PROCESS OF REFINANCING ITS US$120.0 MILLION CONVERTIBLE DEBENTURES MATURING ON NOVEMBER 30, 2019

* DIVESTITURE FROM ITS JUVENILE DISTRIBUTION OPERATIONS BASED IN COLOMBIA AND PANAMA RELATIVELY IMMATERIAL TO CO'S EARNINGS

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