Heroux-Devtek profit rises on higher industrial sales

Fri May 25, 2012 7:27am EDT
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(Reuters) - Aerospace and industrial products maker Heroux-Devtek Inc (HRX.TO: Quote) posted a 12 percent rise in quarterly profit, helped by higher sales in its industrial business.

Net income for the fourth-quarter rose to C$9 million, or 29 Canadian cents per share, from C$8 million, or 26 Canadian cents per share, a year earlier.

Sales for Heroux-Devtek, which makes landing gear, airframe components and gas turbine parts, rose 3 percent to C$109.0 million.

Heroux-Devtek shares, which have risen 24 percent in past four months, closed at C$8.28 on Thursday on the Toronto Stock Exchange.

(Reporting by Ankur Banerjee in Bangalore; Editing by Sreejiraj Eluvangal)