Article originally published on the Bike Europe website on Nov. 8, 2013.
MONTREAL, Canada – Dorel had good news for shareholders on Nov. 7, after a disappointing second quarter. The company, whose cycling-related holdings include Cannondale, Schwinn, GT, and Sugoi, and now Brazilian bicycle company Caloi, announced that revenue for the quarter was US$607.3 million compared to US$613.3 million a year ago. Net income for the period was US$11.1 million or US$0.34 per diluted share compared to US$20.0 million or US$0.63 per diluted share in 2012. (read original article)