UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN ISSUER PURSUANT TO RULES 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
March 4, 2008
Commission File Number: 0-29712
DOREL INDUSTRIES INC.
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1255 Greene Ave, Suite 300, Westmount, Quebec, Canada H3Z 2A4
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Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F [ X ] Form 40-F [ ]
Indicate by check mark whether the registrant by furnishing the information in this Form is also thereby furnishing
the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes [ ] No [ X ]
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C O M M U N I Q U É | |
JUVENILE Cosco Safety 1st Maxi-Cosi Bébé Confort Quinny Baby Relax Babidéal Mon Bébé Bertini Mothers Choice RECREATIONAL / LEISURE Cannondale GT SUGOi Pacific Cycle Schwinn Mongoose InSTEP PlaySafe Pacific Outdoors HOME FURNISHINGS Ameriwood Altra Furniture Dorel Home Products Cosco Home & Office Dorel Asia Cosco Ability Care Essentials Adepta EXCHANGES TSX: DII.B, DII.A CONTACT: MaisonBrison Rick Leckner (514) 731-0000 Dorel Industries Inc. Jeffrey Schwartz (514) 934-3034 | DOREL PRE-ANNOUNCES CERTAIN FISCAL 2007 FINANCIAL RESULTS IN ADVANCE OF INVESTOR MEETINGS Montreal, March 4, 2008 As a result of the Company holding a series of meetings with investors and potential investors commencing today, Dorel Industries Inc. (TSX: DII.B DII.A) is disclosing certain financial information for the year ended December 30, 2007. Complete 2007 financial results will be released on March 11, 2008 prior to market opening, with a conference call to be held the same day. Revenue for the year ended December 30, 2007 is US$1.81 billion, as compared to prior years revenue figure of US$1.77 billion. Earnings per share on a fully diluted basis are expected to be US$2.63 versus US$2.70 in 2006. Excluding restructuring costs, adjusted earnings per diluted share for the full year are expected to be US$3.01 per share. This compares with adjusted earnings per diluted share of US$2.80 in fiscal 2006. The Company generated a record free cash flow* figure of US$116 million for 2007 compared to US$83.4 million in 2006. *Free cash flow is a non-GAAP financial measure and is defined as cash provided by operating activities less dividends paid, additions to property, plant & equipment, deferred development costs and intangibles, plus or minus variations in funds held by ceding insurer. |
Profile
Dorel Industries Inc. (TSX: DIIB, DII.A) is a world class juvenile products and bicycle company. Established in 1962, Dorel creates style and excitement in equal measure to safety, quality and value. The Companys lifestyle leadership position is pronounced in both its Juvenile and bicycle categories with an array of trend-setting products. In the Juvenile segment, Dorels powerfully branded products such as Quinny, Maxi-Cosi, Safety 1st and Bébé Confort have shown the way to safety, originality and fashion. Similarly, its highly popular brands such as Cannondale, Schwinn, GT, Mongoose and SUGOi have made Dorel a principal player with both independent bicycle dealers and mass merchants. Dorels Home Furnishings segment markets a wide assortment of furniture products, both domestically produced and imported. The Company exerts relentless innovation and marketing flair across all of its divisions. Dorel is a $2 billion company with forty-six hundred employees, facilities in seventeen countries, and sales worldwide.
US operations include Dorel Juvenile Group USA; the Cannondale Sports Group; Pacific Cycle; Ameriwood Industries which produces ready-to-assemble furniture; Altra Furniture; and Cosco Home & Office. In Canada, Dorel operates Dorel Distribution Canada and Dorel Home Products. Abroad, operations include Dorel Europe and IGC in Australia, a manufacturer and distributor of juvenile products. Dorel Asia sources and imports home furnishings products. Dorel China has eight offices which oversee the sourcing, engineering and logistics of the Companys Asian supplier chain.
Caution Concerning Forward-Looking Statements
Except for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of Dorel Industries Inc. These statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events. The business of the Company and these forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ from expected results. Important factors which could cause such differences may include, without excluding other considerations, increases in raw material costs, particularly for key input factors such as particle board and resins; increases in ocean freight container costs; failure of new products to meet demand expectations; changes to the Companys effective income tax rate as a result of changes in the anticipated geographic mix of revenues; the impact of price pressures exerted by competitors, and settlements for product liability cases which exceed the Companys insurance coverage limits. A description of the above mentioned items and certain additional risk factors are discussed in the Companys Annual MD&A and Annual Information Form, filed with the securities regulatory authorities in Canada and the U.S. The risk factors outlined in the previously mentioned documents are specifically incorporated herein by reference. The Companys business, financial condition, or operating results could be materially adversely affected if any of these risks and uncertainties were to materialize. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report
to be signed on its behalf by the undersigned, thereunto duly authorized.
DOREL INDUSTRIES INC.
By: /s/ Martin Schwartz_____________
Martin Schwartz
Title: President and Chief Executive Officer
By: /s/ Jeffrey Schwartz_____________
Jeffrey Schwartz
Title: Executive Vice-President,
Chief Financial Officer
March 4, 2008