(Longueuil) Sales of the Longueuil company Héroux-Devtek reached a record level in the fourth quarter, in a context where demand for its products “has never been so strong” on a global scale.
The aircraft landing gear maker reported Wednesday morning that its sales totaled 184.1 million in its quarter ended March 31, up 18.0% from 156.0 million for the same period last year.
Civil aviation sector sales increased 55.0% to 75.8 million, while defense sector sales reached 108.2 million, up 1.1% from in the corresponding quarter of the previous financial year.
The company reported net income of $20.7 million, or 61 cents per share, compared to a profit of $6.3 million, or 18 cents per share, in the fourth quarter of fiscal 2023.
According to the President and CEO of Héroux-Devtek, Martin Brassard, “these results can be explained by the various measures implemented over the last two years to improve productivity, notably automation, stabilization (of ) production systems and pricing initiatives.
“I am convinced that these results mark the start of a lasting trend of improvement in terms of performance,” he said in a press release.
For the entire 2024 fiscal year, Héroux-Devtek announced that its sales reached 629.8 million, a record, up 15.8% compared to 543.6 million the previous fiscal year.
The company stressed that its sales thus surpassed pre-pandemic levels.
Its net income was 38.3 million, or $1.13 per share, for the full fiscal year 2024, up from 13.8 million, or 40 cents per share, for the financial year 2023.