Article originally published on the Bike Europe website on March 7, 2013.
MONTREAL, Canada – Dorel reported strong results for its 2012 fourth quarter and the year overall on March 5, with the company’s success in the cycling sector pegged as an important part of the equation.
“Driven by double digit growth in sales of Dorel’s premium Cannondale brand, the Recreational/Leisure segment’s full-year revenue surpassed US$900 million (€690 million),” said Martin Schwartz, Dorel’s president and CEO, in a conference call to announce the year’s earnings.
Revenue for the fourth quarter increased 10.9% to US$622.6m (€477m) from US$561.6m (€430m) a year ago. Net income was up 6.4% to US$29.1m
Read the full article Dorel’s Cycling Side Aids Growth in 2012