DOREL INDUSTRIES $30.78 (Toronto symbol DII.B; TSINetwork Rating: Extra Risk) (514-934-3034; www.dorel.com; Shares outstanding: 32.3 million; Market cap: $1.0 billion; Dividend yield: 5.1%) reports that its sales rose 0.9% in the three months ended September 30, 2015, to $679.3 million from $673.0 million a year earlier (all figures except share price and market cap in U.S. dollars).
Earnings fell 35.1%, to $0.48 a share from $0.74. However, Dorel gets half of its sales from outside the U.S., and the high U.S. dollar cut its earnings by $0.28 a share in the latest quarter. Costs related to the company’s plan to shift juvenile-product manufacturing to Asia also weighed on its earnings.
The stock trades at a low 7.9 times Dorel’s forecast 2016 earnings of $2.94 a share. It yields a high 5.1%.
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