May 29, 2009 / 12:41 PM / 9 years ago

UPDATE 1-Heroux-Devtek 4th-qtr profit tops market view

* Q4 EPS C$0.20 vs est C$0.17

* Sales up 11 pct to C$92.1 mln

* Not expecting any significant sales growth in FY10

May 29 (Reuters) - Aerospace and industrial manufacturer Heroux-Devtek Inc (HRX.TO) posted a higher-than-expected quarterly profit on increased sales across its segments, but said it does not expect any significant sales growth for the current financial year given the economic uncertainty.

“The current economic environment will unquestionably slow the activity of some business segments,” Chief Executive Gilles Labbe said in a statement.

For the fourth quarter ended March 31, the company reported net income of C$6.4 million ($5.80 million), or 20 Canadian cents per share, flat from a year ago.

Sales grew about 11 percent to C$92.1 million, boosted by a 9 percent rise in aerospace sales and an almost 37 percent jump in sales from the industrial segment.

Analysts on average expected the company to earn 17 Canadian cents, before items, on revenue of C$92.7 million, according to Reuters Estimates.

Shares of the Longueuil, Quebec-based company closed at C$4.39 Thursday on the Toronto Stock Exchange. They have gained 63 percent year to date. ($1=1.104 Canadian Dollar) (Reporting by R. Manikandan in Bangalore; Editing by Himani Sarkar)

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