March 11, 2009 / 2:07 PM / 9 years ago

UPDATE 1-Dorel reports lower profit, warns of tough year

* EPS $0.57 vs year earlier $0.67

* Revenue rises 4.5 pct to $479.9 million

* Shares up 1 percent at C$16.00 (In U.S. dollars. Adds details)

TORONTO, March 11 (Reuters) - Children’s furniture and recreational products maker Dorel Industries (DIIb.TO) reported a lower quarterly profit on Wednesday, but warned that it expects tough times ahead as retailers scale back orders.

    Dorel, whose products include ready-to-assemble furniture, Safety 1st children’s products, and bicycles said it earned $19.2 million, or 57 cents a share, in its fourth quarter, down from $22.3 million, or 67 cents a share, in the year-before quarter.

    Revenue rose 4.6 pct to C$479.9 million.

    $1=$1.28 Canadian Reporting by Scott Anderson; Editing by Peter Galloway

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