Dorel Sports Turns Q1 Profit, but Sales Decline
Dorel’s Sports segment swung to an operating profit of $4,501,000 in Q1 from a loss of $774,000 last year that included a $7 million bad debt writedown from the Toys “R” Us bankruptcy, but sales dropped 11% to $184,544,000 from $206,687,000. Excluding the apparel business sale to Louis Garneau and currency losses, organic sales were down 5%, and the Cycling Sports Group ... Log in to view full article.
