Héroux-Devtek reports strong net income increase of 33.8% for 3rd quarter fiscal 2012

Héroux-Devtek, a leading Canadian manufacturer of aerospace and industrial products, reported its results for the third quarter of fiscal 2012 ended December 31 2011. Consolidated sales for the third quarter were $93.4m, an increase of 8.8% from $85.8m for the same period last year. Sales rose in all product lines, including strong growth for Industrial products. Earnings before interest, taxes, depreciation and amortization (“EBITDA”) were $16.9m, or 18.1% of sales, compared with $14.7m, or 17.1% of sales last year. Operating income stood at $10.8m, or 11.5% of sales, up from $8.7m, or 10.1% of sales last year. Net income increased 33.8% to $6.9m from $5.2m a year ago.