Héroux-Devtek Inc. Reports Fourth-Quarter Profit of $6.3 Million
Key Highlights :
Héroux-Devtek Inc., a Canadian maker of aircraft landing gear, reported a fourth-quarter profit of $6.3 million, down from $11.5 million a year earlier as its sales climbed higher. 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, Héroux-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. Chief executive Martin Brassard said in a statement: "At Héroux-Devtek, our priority remains stabilizing our production system through a reliable supply chain and increased automation in our plants. We will also continue to improve our processes and our pricing structure with our customers and suppliers. We are confident that these measures will return our profitability to higher levels."
Héroux-Devtek Inc. is a leading Canadian manufacturer of aerospace and defense products and services. Founded in 1942, the company's success has been driven by its commitment to innovation and its strong customer relationships. The company's products and services are used in a variety of applications, including military aircraft, civil aviation, helicopters, space, and industrial products.
Héroux-Devtek's products and services include landing gear, actuation systems, structures, and components for the aerospace and defense industries. The company also provides engineering and development services, as well as aftermarket services such as maintenance, repair, and overhaul.
Héroux-Devtek's products and services are used in a variety of applications, including military aircraft, civil aviation, helicopters, space, and industrial products. The company has established a strong presence in the aerospace industry, and its products are used by some of the world's leading aircraft manufacturers, including Boeing, Airbus, and Bombardier.
Héroux-Devtek's commitment to innovation and customer service has enabled the company to build a strong customer base and establish itself as a leader in the aerospace and defense industries. Héroux-Devtek is focused on providing its customers with high-quality products and services, and its strong commitment to innovation has enabled the company to remain competitive in the aerospace and defense sectors.
The company is well-positioned for future growth and success, and its strong financial position and commitment to innovation will ensure that it continues to be a leader in the aerospace and defense industries. With its commitment to innovation, customer service, and financial stability, Héroux-Devtek is well-positioned to continue to be a leader in the aerospace and defense industries.
