November 4, 2010 / 9:58 PM / 7 years ago

UPDATE 1-Dorel earnings flat, revenues rise

* EPS unchanged at $0.91

* Revenue up 9.8 percent (In U.S. dollars unless noted)

TORONTO, Nov 4 (Reuters) - Dorel Industries DIIb.TO posted flat earnings on Thursday, as an increase in sales was offset by higher freight rates and raw materials costs.

For the third quarter ended Sept. 30, the Montreal-based distributor of children’s products and bicycles earned $30.1 million, or 91 cents a share. The company earned $30.2 million, or 91 cents a share, in the same period a year earlier.

Dorel, whose brands include Cosco and Safety 1st, said revenue rose 9.8 percent to $569.5 million.

The company said freight and input costs were easing, but warned that consumer demand was soft, especially in its home furnishings segment. Its bicycle business continued to improve, particularly in North America and Europe, the company said.

Shares of Dorel, which reported its results after markets closed, finished the session 2 percent higher at C$34.25. A conference call with analysts will be held on Friday.

$1=$1.00 Canadian Reporting by Solarina Ho; editing by Peter Galloway

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