March 8, 2012 / 3:08 PM / 6 years ago

UPDATE 1-Dorel profit rises on higher revenue

TORONTO, March 8 (Reuters) - Dorel Industries Inc , a Canadian company that makes bicycles and children’s products, reported higher quarterly profits and revenue on Thursday.

Earnings rose in Dorel’s juvenile segment, which includes car seats and strollers, helped in part by increased demand in the United States.

The company had warned in August that weak consumer confidence would hurt second-half results in that sector.

“The juvenile segment did reverse the year’s downward earnings trend, although results were not yet where we had hoped they would be,” said Chief Executive Martin Schwartz.

Net income for the quarter ended Dec. 30 rose to $27.4 million, or 85 cents a share, from $25.9 million, or 79 cents last year. Revenue rose 4.1 percent to $561.6 million.

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