March 10, 2010 / 3:15 PM / in 8 years

UPDATE 1-Dorel shares jump on strong results

* EPS $0.73 vs $0.57

* Revenue up 13.6 pct at $545.3 million

* Shares up more than 3 pct on Toronto Stock Exchange

(In U.S. dollars)

TORONTO, March 10 (Reuters) - Dorel Industries Inc (DIIb.TO) said strong performances from its three divisions boosted its quarterly results and its shares rose more than 3 percent on Wednesday.

The Montreal-based company, whose products include ready-to-assemble furniture, Safety 1st children’s products, and bicycles, earned $24.2 million, or 73 cents a share for the quarter that ended Dec. 30, up from $19.2 million, or 57 cents a share for the same time a year earlier.

Revenue for the quarter climbed 13.6 percent to $545.3 million.

Sales in its juvenile furniture division rose 13.1 percent to $248.5 million, while sales in the recreation and leisure product division were up 11.3 percent at $175.7 million. Home furnishing revenue rose 18.4 percent to $121.1 million.

Dorel’s shares, which have more than doubled in the past year were up 3.2 percent at C$34.53. ($1=$1.03 Canadian) (Reporting by Scott Anderson, editing by Dave Zimmerman)

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