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DOREL DOREL JUVENILE Maxi - Cosi Quinny Tiny Love Safety 1st Bébé Confort Cosco Infanti DOREL SPORTS Cannondale Schwinn Caloi GT Mongoose Kid Trax DOREL HOME Dorel Home Products Cosco Home & Office Ameriwood Dorel Living Signature Sleep Little Seeds EXCHANGES TSX : DII.B , DII.A CONTACTS : Saint Victor Investments Inc Rick Leckner ( 514 ) 245-9232 Dorel Industries Inc. Jeffrey Schwartz ( 514 ) 934-3034 COM MU N I Q U E DOREL REPORTS STRONG 2021 FIRST QUARTER RESULTS ● Dorel Sports delivers 8th consecutive quarter of revenue growth Dorel Home operating profit up significantly Dorel Juvenile improves bottom line despite COVID - 19 challenges Rising freight and raw material costs to require price increases through the year Montréal , May 7 , 2021 - Dorel Industries Inc. ( TSX : DII.B , DII.A ) today released results for the first quarter ended March 31 , 2021. Revenue was US $ 708.9 million , up 22.1 % compared to US $ 580.8 million a year ago . Reported net income was US $ 2.7 million or US $ 0.08 per diluted share , compared to a reported net loss of US $ 57.8 million or US $ 1.78 per diluted share last year . Adjusted net income¹ was US $ 12.2 million or US $ 0.37 per diluted share compared to an adjusted net loss¹ of US $ 13.6 million or US $ 0.42 per diluted share a year ago . " Dorel had an excellent first quarter , exceeding our expectations and ending with a superb month of March as U.S. government stimulus cheques were an added catalyst to the growth in revenue . COVID - 19 related store closures persisted in a number of Dorel Juvenile's markets , notably parts of Europe , South America and Canada , yet the segment posted another quarter of improved adjusted operating profit¹ as new products resonated well and margins improved . The sale of Dorel Juvenile's China major manufacturing facility closed at the end of the quarter and the transition thus far has been smooth . Both Dorel Sports and Dorel Home continued to benefit from strong consumer demand for their products , with further growth limited only by available supply . Our solid quarter is a tribute to our teams who did an excellent job of mitigating severe supply chain difficulties . Continuing cost increases in all segments for freight and commodities , as well as ocean container availability , will continue to create significant pressures . We will have to offset this with price increases through the rest of this year , " stated Dorel President & CEO , Martin Schwartz . 1 This is a non - GAAP financial measure . Please refer to the " Non - GAAP financial measures " section at the end of this press release . 1