Dorel Industries Inc. reported its net loss from continuing operations grew in the fourth quarter amid global supply chain constraints and higher costs at its children's products and home furnishing divisions.
The Montreal-based company, which keeps its books in U.S. dollars, says it lost US$29.6 million or 91 cents per diluted share from continuing operations, compared with a loss of US$13.3 million or 41 cents per share a year earlier.
Its adjusted loss for the three months ended Dec. 30 amounted to US$12 million or 37 cents per diluted share, compared with an adjusted loss of US$9.8 million or 30 cents per share in the fourth quarter of 2020.
Revenue slipped to US$435.3 million from US$439 million a year earlier.
Analysts on average expected Dorel to report an adjusted loss of five cents per share on US$439.3 million of revenues, according to analysts polled by Refinitiv.
Dorel's shares were down $1.35 or 11.5 per cent at $10.37 in early afternoon trading on the Toronto Stock Exchange.
-- This report by The Canadian Press was first published on March 11, 2022.
