After two years of limited growth at Pacific Cycle, 2007 is shaping up as a much better year, its parent, Dorel Industries, told shareholders last week at its annual meeting.
Dorel president and CEO Martin Schwartz, says further gains in the bicycle market and new recreational product platforms will boost the Recreational/Leisure segment.
“There are efforts on several fronts with new non-bike product categories, including backyard items such as swing sets as well as products for fish and game enthusiasts,” Dorel said in a statement. “Pacific Cycle now generates a growing proportion of its revenue from non-bicycle sales as it continues to develop into a true recreational company, as opposed to strictly a bicycle business. Even so, Pacific Cycle sells more bikes than any other U.S. bike company through the Schwinn, Mongoose and GT brands. Pacific tops the industry at 30+ percent of the units sold.”
Overall, Dorel expects revenues at its Recreational/Leisure segment experience high-single digit growth with better margins and increased earnings.
