Dorel reports year-end financials
Despite climbing scooter sales, Dorel Industries Inc., the company that owns Schwinn Motor Sports, reported a decrease in year-end revenue in its recreational/leisure segment.
Dorel, a global consumer products company, reported in its 2006 year-end financial report that its scooter sales had increased. Together with another new recreational offering (swing sets), the new products brought in an additional $15 million.
Reduced bicycle sales, however, led to a segment revenue decrease of 4.7 percent in 2006 to $328.4 million. Fourth-quarter revenue in this segment also fell, dropping 6.3 percent from the previous year period.
Overall, the Canadian company reported a slightly higher full-year revenue of $1.7 billion, while its net income of $88.9 million dropped 2.6 percent from the previous year.
