Accessibility/Mobile Features
Skip Navigation
Skip to Content
Editorial News
Business
Classified Sites

The Canadian Press - ONLINE EDITION

Heroux-Devtek to spend $90 million to ramp up operations for Boeing order

LONGUEUIL, Que. - Heroux-Devtek Inc. (TSX:HRX) will invest about $90 million on equipment and facilities over two years to help it supply jet landing gear under a long-term contract with Boeing (NYSE:BA).

The money is in addition to $30 million for regular capital spending already allocated for the current and next financial years by the Montreal-area company, based in Longueuil, Que.

The announcement was made as Heroux-Devtek released its latest financial results, which showed it had $1.23 million of net income. The company earned $5.95 million or 19 cents per share of adjusted net income from continuing operations for its fourth quarter.

Net income for the three months ended March 31 was down from $8.278 million a year earlier, when the profit was boosted by $3.679 million related to the sale of about half of its operations in order to focus on its landing-gear business. Adjusted net income from continuing operations was up from $4.59 million or 15 cents per share.

Sales from continuing operations in the three months ended March 31 were $91.2 million, up from $73.8 million a year earlier.

For the full 2014 financial year, Heroux-Devtek had $9.236 million of net income, all from continuing operations. In fiscal 2013, it had $131.6 million of net income, including $118.2 million from discontinued operations. Sales from continuing operations for the full year ended March 31 were $272.03 million, up from $257.02 million in fiscal 2013.

  • Rate this Rate This Star Icon
  • This article has not yet been rated.
  • We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high. If you thought it was well written, do the same. If it doesn’t meet your standards, mark it accordingly.

    You can also register and/or login to the site and join the conversation by leaving a comment.

    Rate it yourself by rolling over the stars and clicking when you reach your desired rating. We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high.

Sort by: Newest to Oldest | Oldest to Newest | Most Popular 0 Commentscomment icon

You can comment on most stories on brandonsun.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

There are no comments at the moment. Be the first to post a comment below.

Post Your Commentcomment icon

Comment
  • You have characters left

The Brandon Sun does not necessarily endorse any of the views posted. Comments are moderated before publication. By submitting your comment, you agree to our Terms and Conditions. New to commenting? Check out our Frequently Asked Questions.

letters

Make text: Larger | Smaller

Brandon Sun Business Directory
Sudden Surge: Flood of 2014
Opportunity Magazine — The Bakken
Why Not Minot?
Welcome to Winnipeg

Social Media

Canadian Mortgage Rates