DOREL INDUSTRIES $35.02 (Toronto symbol DII.B; TSINetwork Rating: Extra Risk) (514-731-0000; www.dorel.com; Shares outstanding: 32.3 million; Market cap: $1.1 billion; Dividend yield: 4.3%) (All amounts except share price and market cap in U.S. dollars) makes a number of items, including ready-to-assemble home and office furniture; juvenile products, such as car seats, strollers, high chairs, toddler beds and cribs; and sporting goods, mainly bicycles.
In the three months ended December 31, 2014, Dorel’s sales rose 10.7%, to $701.6 million from $633.5 million a year earlier. Sales rose 6.0% at the sports segment and 13.5% at the juvenile products division. Home furnishing sales gained 14.2%.
Excluding one-time items, earnings fell 9.1%, to $11.0 million, or $0.34 share, from $12.1 million, or $0.38. The high U.S. dollar made the company’s international sales less profitable.
The stock trades at 11.8 times Dorel’s forecast 2015 earnings of $2.42 a share. Its earnings could jump as high as $3.66 a share next year, and the stock trades at just 7.8 times that estimate. It yields a high 4.3%.
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