May 7, 2009 / 1:23 PM / in 8 years

UPDATE 1-Dorel profit drops on weak juvenile division

*EPS $0.84 vs $1.05

*Revenue falls 5.5 percent to $525.2 million (In U.S. dollars. Adds details)

TORONTO, May 7 (Reuters) - Dorel Industries Inc (DIIb.TO) posted a lower quarterly profit on Thursday, due partly to a weak performance from its juvenile furniture division.

The Montreal-based company, whose products include ready-to-assemble furniture, Safety 1st children’s products, and bicycles, said it earned $28 million, or 84 cents a share for the quarter ended March 31, down from $35.1 million, or $1.05 a share for the same time last year.

Revenue fell 5.5 percent to $525.2 million.

Analysts, on average, had expected earnings of 87 cents a share before items and revenue of $539.1 million, according to Reuters Estimates.

Sales in its juvenile furniture division fell 17.7 percent to $254 million, while sales in the recreation and leisure product division were up 14.9 percent at $161.4 million. Home furnishing revenue rose 2.8 percent to $109.8 million. ($1=$1.16 Canadian) (Reporting by Scott Anderson, editing by Gerald E. McCormick)

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