A worker works at on Landing gear without wheels at the Heroux-Devtek in Quebec.
Quebec-based aerospace manufacturer Héroux-Devtek says its financial year has gotten off to a good start and conditions remain favourable for sales of landing gear and other products it makes for commercial and business jets.
The Montreal-area company based in Longueuil, Que., says revenue in the three months ended June 30 rose to $98.2-million, up 13.7 per cent or $11.8-million from the same time last year.
It says the reduced value of the Canadian dollar compared with the U.S. currency accounted for $7.9-million of the increase, but also reflected the strength of the commercial aerospace market – which accounted for 52 per cent of first-quarter sales.
Commercial sales during the quarter rose 18.8 per cent from the same time last year to $51.5-million, mainly because of programs for Embraer and Dassault business jets and Boeing 777 commercial airliners.
Defence sales increased 8.6 per cent to $46.8-million, including a $3.8-million bump from favourable foreign exchange.
Héroux-Devtek's profit also improved, with net income rising to $4.5-million or 13 cents per share from $3.5-million or 11 cents per share. Adjusted net income rose to $5.5-million or 15 cents per share from $3.8-million or 12 cents per share.
The results were issued ahead of the company's annual shareholder meeting Friday.