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Company News

BRIEF-Dorel Industries Reports Q1 Adjusted Earnings Per Share Of $0.17

May 4 (Reuters) - Dorel Industries Inc:

* DOREL REPORTS FIRST QUARTER 2018 RESULTS

* Q1 ADJUSTED EARNINGS PER SHARE $0.17

* Q1 EARNINGS PER SHARE $0.14

* Q1 REVENUE $642.3 MILLION VERSUS $646.7 MILLION

* QTRLY RESULTS REFLECT US$12.5 MILLION IMPAIRMENT LOSS ON TRADE ACCOUNTS RECEIVABLE FROM TOYS”R”US LIQUIDATION

* DOREL INDUSTRIES - CONFIDENT THAT MUCH OF LOST TOYS”R”US SALES WILL BE RECOVERED COMMENCING IN H2

* DOREL INDUSTRIES SAYS “TOYS”R”US LIQUIDATION IN U.S. MAY CAUSE A MARKET DISRUPTION IN SHORT-TERM, BUT WE BELIEVE THIS SITUATION WILL STABILIZE”

* SAYS Q1 “WAS MORE DIFFICULT THAN ORIGINALLY EXPECTED AT DOREL JUVENILE AND DOREL SPORTS”

* DOREL SPORTS’ Q2 EARNINGS MAY BE REDUCED BY RESIDUAL IMPACT OF TOYS”R”US INSOLVENCY Source text for Eikon: Further company coverage:

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