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Dorel Industries Q3 profit climbs YOY

Dorel Industries Inc. said its third-quarter normalized net income amounted to 49 cents per share, compared with the S&P Capital IQ consensus estimate of 53 cents per share.

EPS rose year over year from 48 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $16.0 million, an increase from $15.6 million in the prior-year period.

The normalized profit margin climbed to 2.4% from 2.3% in the year-earlier period.

Total revenue fell on an annual basis to $671.3 million from $679.3 million, and total operating expenses fell on an annual basis to $635.6 million from $652.8 million.

Reported net income came to $16.0 million, or 49 cents per share, compared to a loss of $8.7 million, or a loss of 27 cents per share, in the prior-year period.