LONGUEUIL, Que. - Heroux-Devtek Inc. (TSX:HRX) has reported a lower profit for the fourth quarter, following the sale of a large portion of its manufacturing operations last year.
The Montreal-area aerospace manufacturer had $4.6 million of net income in the fourth quarter, or 15 cents per share, including discontinued operations.
That's down from $6.9 million or 23 cents per share a year earlier, before Heroux-Devtek sold part of its business to focus on aircraft landing gear.
Heroux-Devtek's continuing operations generated $61.7 million in sales during the quarter, down slightly from nearly $62 million in the year-earlier quarter.
Its net income from continuing operations was $3.3 million or 11 cents per share, down from $4.5 million or 15 cents per share in the fourth quarter of 2011.