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Heroux Devtek reports lower third-quarter profits

Feb. 5, 2010, Longueuil, Que. - Canadian aeropace manufacturer Heroux-Devtek
Inc. says its third-quarter revenue and profit fell, in part because of currency fluctuations.


February 5, 2010
By The Canadian Press

The Montreal-area company says its net income dropped to $3.5 million or 12 cents per share in the final three months of 2009, its fiscal third quarter.

That's down from from $5.2 million or 16 cents per share a year earlier.

Heroux-Devtek says its third-quarter sales declined by 10.3 per cent to $76.7 million from $85.6 million a year earlier.

The company says fluctuations in the values of the Canadian and U.S. dollars were partly to blame for the reduced sales and profit margins.

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The American dollar fell against several major currencies in the last half of 2009, including the Canadian dollar.