Canadian bicycle maker Dorel Industries Inc., said revenue rose 2.3% for the year ended Dec. 30, 2007 to $1.81 billion, as compared to prior year's revenue of $1.77 billion.
Dorel, which owns Pacific Cycle and acquired Cannondale Bicycle Corp. last month, said earnings per share on a fully diluted basis are expected to be $2.63 versus $2.70 in 2006. Excluding restructuring costs, adjusted earnings per diluted share for the full year are expected to be $3.01 per share. This compares with adjusted earnings per diluted share of US$2.80 in fiscal 2006.
The company generated a record free cash flow of $116 million for 2007 compared to $83.4 million in 2006.
Dorel said it released the preliminary 2007 figures because it is disclosing the information in a series of meetings with investors and potential investors that began today.
Complete 2007 financial results will be released on March 11, 2008 prior to market opening.
