November 5, 2009 / 4:00 PM / 8 years ago

UPDATE 1-Dorel Industries Q3 profit rises 11 pct

* Q3 EPS $0.91 vs $0.82 last year

* Revenue down 6 pct to $518.5 mln

* Shares up 6 pct

Nov 5 (Reuters) - Dorel Industries Inc (DIIb.TO) posted an 11 percent rise in third-quarter profit on improved earnings from its home furnishings segment.

The Montreal-based company, whose products include ready-to-assemble furniture, Safety 1st children's products, and bicycles, earned $30.2 million, or 91 cents a share, compared with $27.2 million, or 82 cents a share, last year.

Revenue, however, fell 6 percent to $518.5 million as sales from Juvenile segment fell due to a weak European market.

Analysts on average were expecting earnings of 72 cents a share, on revenue of $522.1 million, according to Thomson Reuters I/B/E/S.

Revenue from home furnishings segment remained almost flat at $125.4 million. However, gross profit rose 68 percent to $22. 6 million, helped by domestically produced furniture and futons.

Class B shares of Dorel were up C$1.77, or 6 percent, at C$31.48 Thursday morning on the Toronto Stock Exchange. (Reporting by R. Manikandan in Bangalore; Editing by Ratul Ray Chaudhuri)

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