Go to the Globe and Mail homepage

Jump to main navigationJump to main content


Héroux-Devtek profit climbs 34% Add to ...

Héroux -Devtek Inc. , a Quebec-based manufacturer of aerospace and industrial products, reports its net profit in the latest quarter rose more than a third while sales increase nearly 9 per cent.

The Montreal-area company reported Friday it earned $6.9-million, or 23 cents a share for the three months ended Dec. 31, the third quarter of its 2012 fiscal year.

More related to this story

That was 33.8 per cent higher than $5.2-million, or 22 cents earned a year earlier.

Sales rose 8.8 per cent to $93.4-million from $85.8-million as the company benefited from strong growth of more than 53 per cent in its industrial products business.

“Héroux -Devtek posted another solid performance in the third quarter, as sales rose for all product lines, profitability further increased and our financial position strengthened,” president and chief executive officer Gilles Labbe said in a release before stock markets opened.

“During the quarter, we inaugurated our new manufacturing facility in Queretaro, Mexico. This strategic expansion further enhances our flexibility, value proposition to OEMs and overall competitiveness.”

The company makes and repairs aircraft components such as landing gears for military and commercial customers. Héroux -Devtek also makes parts for power generation equipment and precision components for other industrial applications.

About 70 per cent of the company’s business comes from outside Canada, mainly in the United States.

The company has plants in the Montreal area, Kitchener, Ont., and Toronto as well as plants in Arlington, Tex.; Springfield, Cleveland and Cincinnati, in Ohio, as well as Mexico.

Security Price Change
HRX-T Heroux-Devtek Inc. 11.63 0.23
2.018 %
Add to watchlist
Live Discussion of HRX on StockTwits
More Discussion on HRX-T

More related to this story


Globe Investor - GIT Upsells
It's never been a better time to get Globe Unlimited
Try Globe Unlimited, featuring new Globe Investor Tools, for a special trial rate. Only 99¢ for your first month.

Are you a Globe Investor Gold subscriber?
You qualify for complimentary access to Globe Unlimited.
Visit: globeandmail.com/globeplusunlimited
Try it today

In the know

Most popular video »


More from The Globe and Mail

Most Popular Stories