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MONTRÉAL, May 12, 2025 (GLOBE NEWSWIRE) -- Dorel Industries Inc. (TSX: DII.B, DII.A) today announced its financial results for the first quarter ended March 31, 2025. First quarter revenue was US$320.5 million, down 8.7%, from US$351.1 million a year ago. Reported net loss for the quarter was US$25.3 million or US$0.77 per diluted share compared to US$17.6 million or US$0.54 per diluted share a year ago. The reported net loss for the quarter includes total restructuring costs of US$1.6 million and as such, adjusted net loss1 was US$23.6 million or US$0.72 per diluted share compared to US$16.9 million or US$0.52 per diluted share for the first quarter a year ago. ‟Dorel Juvenile had a strong start to 2025, with another quarter of organic revenue growth1. Our new product introductions continue to resonate with retailers and consumers and our pipeline of upcoming launches is robust. Another positive, though out of our control, was the weakening of the U.S. dollar in the quarter against most other major currencies which helped earnings and should continue to do so going forward. Conversely, Dorel Home faced a challenging start to the year, with e-commerce sales much lower than expected. As we said in our last earnings release, brick and mortar success will be a key to our turnaround, but the change in the e-commerce landscape means we significantly underperformed. We have lowered our expectations on what the e-commerce channel can deliver and as a result will be taking further action to substantially reduce our footprint,” stated Dorel President & CEO, Martin Schwartz.__________________________ 1 This is a non-GAAP financial ratio or measure with no standardized meaning prescribed by IFRS and therefore is unlikely to be comparable to similar measures presented by other issuers. Refer to the section “Definition and reconciliation of non-GAAP financial ratios and measures” in this press release.
