Heroux Devtek reports Q4 profit down from year ago, sales up
The Canadian PressBusiness Operations Aerospace
LONGUEUIL, Que. – Heroux-Devtek Inc. reported a fourth-quarter profit of $6.3 million, down from $11.5 million a year earlier as its sales climbed higher.
The maker of aircraft landing gear says the profit amounted to 18 cents per diluted share for the quarter ended March 31, down from a profit of 33 cents per diluted share a year earlier.
Sales totalled $156.0 million, up from $147.5 million in the same quarter last year.
The company says civil sales were up 28.9 per cent, boosted by increased deliveries for the Boeing 777, Embraer Praetor and Falcon 6X programs, while defence sales were relatively stable.
On an adjusted basis, Heroux-Devtek says it earned 18 cents per share, down from an adjusted profit of 38 cents per share a year earlier.
The company’s funded backlog stood at $864 million, up from $682 million a year earlier.