Dorel Industries Inc. , the Montreal-based maker of car safety seats for children, furniture and bicycles, says it experienced double-digit growth in sales and profit during the fourth quarter of 2009.
The company's fourth-quarter profit, expressed in U.S. currency, was $24.2-million (U.S.) or $31- million before taxes, up from $19.2-million a year earlier.
Revenue for the quarter ended Dec. 30 was $545.3-million, up 13.6 per cent from $479.9-million a year before.
For the year as a whole, Dorel's revenue slipped 1.9 per cent to $2.14-billion from $2.18-billion and its net income fell five per cent to $107.2-million from $112.8-million.
The annual profit was the equivalent of $3.21 per diluted share in 2009, compared with $3.38 per share in 2008.