First Quarter Conference Call May 9, 2013 - Dorel Industries

FINAL TRANSCRIPT
May 9, 2013 – 01:00 p.m. E.T.
Dorel Industries First Quarter Results
weather has broken, you know, those sales are going through. So inventory is coming down on bikes
right now. And that's it.
Martin Schwartz
Okay. Thank you, Jeffrey.
First quarter results do not reflect our expectations for the full year. With the bad weather
hopefully behind us, both our bicycle retailers and us remain positive about our product offerings
and fully expect sales to rebound and catch up with the improving weather. We have seen some of
that rebound already in Europe and certain parts of North America. While weather remains a
variable that is beyond our control, our market share is intact and growing. We still believe that our
Recreation and Leisure segment will exceed last year's earnings.
In Juvenile, our first quarter was as anticipated as the timing of sales was different from
last year. With the new product launches and other plans, our expectations remain positive in
Juvenile for improved 2013 earnings.
In Home Furnishings, we have had a good start to the year and continue to benefit from
our solid retail relationships.
For the company as a whole, we expect our key input costs to remain stable in the
foreseeable future, so we maintain our confidence that 2013 will exceed last year's overall results.
I'll now ask the operator to open the lines for your questions. And again, please limit your
questions in the first round to two. Operator?
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