Quebec-based manufacturer Héroux-Devtek Inc. says its profit and revenue in the fourth quarter of fiscal 2010 were down from the year-earlier comparables, in part because of the fluctuating value of the Canadian dollar.
The aerospace and industrial equipment maker, based in Longueuil, Que., says its profit was $4.4-million or 14 cents per share in the three months ended March 31. Revenue was just under $85-million.
By comparison, Héroux-Devtek's year-earlier revenue was $92.1-million and profit was $6.4-million or 20 cents per share.
Héroux-Devtek said its fourth-quarter 2010 revenue would have been $9.5 higher than recorded if currency exchange rates had remained stable.
"The negative variance mainly reflects the currency impact related to the rapid depreciation of the Canadian dollar when compared to the U.S. dollar in the fourth quarter of last fiscal year," the company said.
The company's aerospace division primarily makes aircraft landing gear while its industrial division produces large components for power generation equipment and precision components for other industrial applications.Report Typo/Error
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