Heroux Devtek’s earnings soar in the third quarter

Heroux-Devtek’s profit soared in the third quarter. The Quebec aeronautical firm posted a profit of $ 7.4 million or 20 cents per share on Thursday during this period, compared to only $ 626,000 or 2 cents per share at the same time last year.

Its quarterly sales increased from $ 97 million to $ 144.5 million, an increase of 49 percent. Commercial sales increased by 25.7 percent and defense-related sales by 76 percent.

Adjusted earnings for the company were $ 9.4 million or 26 cents per share, compared to $ 5.7 million or 16 cents per share a year ago.

Héroux-Devtek specializes in the design, development, manufacturing, repair, maintenance and overhaul of landing gear, hydraulic and electromechanical actuators for flight controls, custom-made ball screws and components reviews intended for the aerospace market.

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