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Dorel Industries Q2 profit falls 20.4% YOY

Dorel Industries Inc. said its second-quarter normalized net income came to 34 cents per share, compared with the S&P Capital IQ consensus estimate of 39 cents per share.

EPS decreased 20.5% year over year from 43 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $11.1 million, a decline of 20.4% from $14.0 million in the year-earlier period.

The normalized profit margin fell to 1.7% from 2.1% in the year-earlier period.

Total revenue grew on an annual basis to $669.6 million from $655.8 million, and total operating expenses rose year over year to $641.3 million from $622.2 million.

Reported net income rose 6.5% from the prior-year period to $16.3 million, or 50 cents per share, from $15.3 million, or 47 cents per share.