Heroux-Devtek beats profit expectations as acquisitions boost bottom line
Posted February 7, 2019 6:37 am.
This article is more than 5 years old.
LONGUEUIL, Que. — Heroux-Devtek Inc. says it earned $7.4 million in its latest quarter as acquisitions boosted its revenue compared with a year ago.
The aircraft parts company says its profit amounted to 20 cents per diluted share for the quarter ended Dec. 31 compared with a profit of $626,000 or two cents per share a year ago.
On an adjusted basis, Heroux-Devtek says it earned 26 cents per share for the quarter, up from 16 cents per share a year ago.
Analysts on average had expected adjusted earnings per share of 17 cents, according to Thomson Reuters Eikon.
Revenue totalled $144.5 million, up from $97 million in the same quarter a year earlier.
The company says its CESA and Beaver acquisitions together contributed $39.6 million, while it also saw eight per cent organic growth.
Companies in this story: (TSX:HRX)
The Canadian Press
