Dorel Industries (DII.B , M or T) good earnings report Message Board

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Gold/Mining/Energy : Dorel Industries (DII.B , M or T) good earnings report

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To: Jay Arkay who wrote (62)	8/11/1999 4:02:00 PM
From: Jay Arkay	Read Replies (1) of 96

Another strong quarter, though the market is clearly concerned by the reduced quarter-over-quarter revenue decline (down about 16%). Still, year-over-year Q2 sales were up 18%, and the second quarter is traditionally a weak one for DII. Most impressive is the fact that Q2 EPS matched Q1 EPS (42 cents each, fully diluted), despite the 16% revenue decline. This indicates that the company has got its costs and operating efficiencies in much better shape, and when sales resume their higher levels in the second half, look for EPS to grow smartly. I feel confident in predicting EPS for each of Q3 and Q4 both in the 50+ cents range. Hence, DII will exit the year with annual EPS at a $2.00 or higher rate, which makes the shares a bargain at their current $27 level (after falling over $6 from their recent highs). This is truly another buying opportunity, which I too would take if DII did not already make up such a large part of my portfolio (more than 30% given all of its gains and share splits over the years). The future looks bright. For the report see: newswire.ca

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