Quebec airplane parts firm reports quarterly sales boosted by acquisitions

LONGUEUIL, Que. — Heroux-Devtek Inc. is reporting operating income of $10.5 million on sales of $146 million in its latest quarter ended Sept. 30.

The Longueuil, Que.-based aircraft parts company nearly doubled the $5.3 million in operating income it posted in the same period of 2018 as sales rose from $95.67 million due to acquisitions and organic growth.

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Analysts had expected operating income of $10.57 million on revenue of $132 million in its fiscal second quarter, according to financial markets data firm Refinitiv.

Last year, the company bought Michigan-based rival Beaver Aerospace for US$23.5 million and Madrid-based landing gear-maker CESA for $140 million.

The company reported its recent acquisitions added $36 million in sales volume during the three months ended Sept. 30 versus the year-earlier period.

It said commercial sales grew from $47 million to $65 million and defence sales were up from $49 million to $81 million.

This report by The Canadian Press was first published Nov. 8, 2019.

Companies in this story: (TSX:HRX)

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