LONGUEUIL, Que. The Canadian Press Published Friday, May. 25, 2012 7:55AM EDT Last updated Friday, May. 25, 2012 8:21AM EDT <\/p>\n
Quebec-based aerospace manufacturer Hroux-Devtek Inc. HRX-T says its fourth-quarter profit was $8.9-million, up 12 per cent from the same time last year and ahead of analyst estimates. <\/p>\n
The Montreal-area companys profit amounted to 29 cents per share, which was two cents above a consensus estimate compiled by Thomson Reuters. <\/p>\n
The company, headquartered in Longueuil, Que., specializes in the design, development, manufacture and repair and overhaul of related systems and components for the aerospace and industrial products segments. <\/p>\n
It supplies the commercial and military aerospace sectors with landing gear systems and airframe structural components from 12 manufacturing facilities. Its industrial segment provides large components for power generation equipment. <\/p>\n
Hroux-Devteks revenue was $109-million in the fourth quarter, also ahead of analyst estimates. The company says its aerospace sales were stable but sales increased in the industrial division. <\/p>\n
For the full 2012 financial year ended March 31, Hroux-Devtek had $380.3-million in revenue up 6.4 per cent from last year. Net income for the year was $26.5-million or 86 cents per share on a diluted basis. <\/p>\n
Thats up from $357.6-million in revenue and $19.1-million of net income, or 63 cents per share in fiscal 2011. <\/p>\n
Fiscal 2012 was a very successful year for Hroux-Devtek, chief executive officer Gilles Labbe said in a statement. <\/p>\n
While the overall economy remained hesitant, the majority of our strategic markets, both in the Aerospace and Industrial segments, gained momentum. As a result, we generated record sales and net income. <\/p>\n<\/p>\n
The rest is here:<\/p>\n
Heroux-Devtek profit rises 12%, beats forecasts<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" LONGUEUIL, Que. Continue reading