October 30, 2009 / 12:41 PM / in 8 years

UPDATE 1-Heroux-Devtek Q2 profit falls 15 pct

* Q2 EPS C$0.11 vs. C$0.13 last year

* Sales down 1 pct to C$76.6 mln

Oct 30 (Reuters) - Aerospace and industrial manufacturer Heroux-Devtek Inc HRX.TO reported a 15 percent fall in its second-quarter profit as soft conditions in the power generation industry hurt its industrial sales.

The company also said it does not expect any significant sales growth for the current financial year, given the economic uncertainty.

For the quarter ended Sept 30, the Longueuil, Quebec-based company reported net income of C$3.5 million ($3.29 million), or 11 Canadian cents a share, down from C$4.1 million, or 13 Canadian cents a share, in the year-ago quarter.

Sales dropped 1 percent to C$76.6 million for the quarter.

Analysts on average were expecting earnings of 11 Canadian cents a share on sales of C$76.85 million.

Aerospace sales grew 4.1 percent to C$70.9 million, while Industrial sales fell 39 percent to C$5.7 million.

Shares of Heroux-Devtek closed at C$5.20 Thursday on the Toronto Stock Exchange. ($1=1.065 Canadian dollar) (Reporting by R. Manikandan in Bangalore; Editing by Anil D‘Silva)

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