11:48 AM EDT, 04/10/2025 (MT Newswires) -- Richelieu (RCH.TO) down near 5% on last look, on Thursday said first-quarter net income fell but revenue advanced.

The specialty-hardware company said net income attributable to shareholders declined 8.6% to $13.9 million, or $0.25 per share, from $15.2 million, or $0.27, last year.

Sales rose 8.6% to $441.7 million, driven equally by internal growth and acquisitions, the company said. In Canada, sales increased 4.1% to $241.6 million, while U.S. sales rose 7.6% to US$139.8 million, representing 45% of total sales.

Richelieu will pay a quarterly dividend of $0.15 per share on May 8.

"Richelieu has strongly started the 2025 fiscal year with five new acquisitions and an 8.6% increase in sales. This result is all the more appreciable given that the first quarter is historically the weakest period of the year and the renovation market conditions remained relatively stagnant during the period," said Chief Executive Richard Lord.

He added that Richelieu is well-positioned to navigate U.S. tariffs, with less than 20% of its products imported from China to the United States.

The company's shares were last seen down $1.86 to $34.30 on the Toronto Stock Exchange.

Price: 33.95, Change: -2.21, Percent Change: -6.11