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Strategies & Market Trends : Technical analysis for shorts & longs

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Nov 14 4:00 PM EST

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To: Johnny Canuck who wrote (35130)	11/13/2001 10:06:22 PM
From: Johnny Canuck	Read Replies (2) of 67997

Dorel Industries posts string Q3; cuts profit outlook for year Last Updated: Tue Nov 13 20:56:01 2001 MONTREAL - Dorel Industries (TSE:DII.b) , which makes furniture and children's products like car seats and strollers, said its Q3 net income rose 30 per cent. But it lowered its profit guidance for the fiscal year by about 10 per cent, citing a continuing weak economy. Dorel said it made $10.3 million US (37 cents a share), compared to $7.9 million US (28 cents a share) in the year ago quarter. For the year as a whole, the company cut its profit forecast from between $1.60 and $1.65 a share, to between $1.40 and $1.50 a share. Total sales in the third quarter rose 12.6 per cent to $233.5 million US. "We have increased sales in each of the three segments and we have been particularly diligent in managing expenses and working capital," Dorel chief executive Martin Schwartz said in a release. "However, one cannot be completely immune to the current generalized negative pressures," he said. "While we are experiencing good sell through on our products, the retail environment generally is very difficult and as such, retailers are taking a far more cautious approach."

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