Last C$10.32 CAD
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heroux-devtek inc (HRX) Snapshot

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05/29/14 - C$12.35
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heroux-devtek inc (HRX) Details

Héroux-Devtek Inc. engages in the design, development, manufacture, repair, and overhaul of landing gear systems and components for the commercial and military sectors of the aerospace market primarily in the United States, Europe, and Canada. It offers new landing gear systems and components, as well as aftermarket products and services, including spare parts, and repair and overhaul services. The company also provides parts and services for major military aircraft in the United States and Europe. In addition, it manufactures electronic enclosures, heat exchangers and cabinets for airborne radar, electro-optic systems, and aircraft controls; provides fluid filters for aircraft engines; and designs, engineers, and manufactures landing gear, and hydraulics and assemblies for original equipment manufacturer and aftermarket applications. Further, it serves large commercial and business jet, regional aircraft, and helicopter markets in the commercial sector. Héroux-Devtek Inc. sells its products primarily to original equipment manufacturers and second-tier system suppliers, as well as US Air Force, U.S. Navy, Canadian Air Force, and NATO countries. The company was formerly known as Heroux Inc. and changed its name to Héroux-Devtek Inc. in 2000. Héroux-Devtek Inc. was founded in 1942 and is headquartered in Longueuil, Canada.

1,392 Employees
Last Reported Date: 05/29/14
Founded in 1942

heroux-devtek inc (HRX) Top Compensated Officers

Chief Executive Officer, President and Non-In...
Total Annual Compensation: C$430.8K
Chief Financial Officer
Total Annual Compensation: C$194.2K
Executive Vice-President of Business Developm...
Total Annual Compensation: C$291.6K
Vice President and Chief Operating Officer of...
Total Annual Compensation: C$291.5K
Compensation as of Fiscal Year 2014.

heroux-devtek inc (HRX) Key Developments

Heroux-Devtek Inc. Inaugurates New Facility in Cambridge, Ontario

Heroux-Devtek Inc. proceeded with the inauguration of a new manufacturing facility in the city of Cambridge, Ontario. This facility is one of the key constituents of Héroux-Devtek's comprehensive capital investment plan aimed essentially at successfully carrying out an important long-term contract to supply The Boeing Company with complete landing gear systems for the B-777 and B-777X aircraft, for which deliveries are scheduled to begin in early calendar year 2017. The 108,000 square foot facility, located in Cambridge's new Boxwood Business Campus, will primarily manufacture large- scale, complex landing gear components. It is currently in the pre-production phase and is expected to be fully operational in June 2015. The Cambridge plant results in the creation of approximately 40 highly-skilled new jobs, while helping to retain existing jobs in Ontario. If required, the facility could be expanded by approximately 100,000 square feet. Héroux-Devtek believes this facility will set new standards in regards to manufacturing technology and be viewed as a leading example in terms of productivity throughout the industry. This facility and other related investments by Héroux-Devtek in Ontario represent a total investment of approximately $54.2 million over a five-year period, including more than $46.0 million during the fiscal years ending on March 31, 2015 and 2016. The Government of Ontario will support the Corporation through an investment of approximately $7.0 million.

Heroux-Devtek Eyes Acquisitions

Heroux-Devtek Inc. (TSX:HRX) seeks acquisitions. Gilles Labbe, Chief Executive Officer said "We're looking at different project these days exactly what they are it's a bit competitive, sensitive what you're asking as a question, so but there is some there is some military program that are available and we are looking also at not necessarily landing gear, there are also some acquisition business, we're looking at with some commercial customer at this point. So that's what I can tell you at this point. So, we certainly are trying to convince our customers to give us additional program and contracts at this point in time."

Heroux-Devtek Inc. Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2014

Heroux-Devtek Inc. reported consolidated earnings results for the third quarter and nine months ended December 31, 2014. For the quarter, the company’s sales rose 43.8% to $88.4 million, up from $61.4 million in the third quarter of fiscal 2014. This increase is mainly attributable to a $24.5 million contribution from APPH, while year-over-year fluctuations in the value of the Canadian currency versus the US currency increased third-quarter sales by $3.2 million. Adjusted EBITDA was $11.5 million, up from $8.3 million a year ago. Adjusted net income was $4.4 million, or $0.12 per diluted share, up 18.0% from $3.7 million, or $0.12 per diluted share, in the third quarter of fiscal 2014. Net loss was $1.909 million or $0.05 per diluted share against net income of $2.608 million or $0.08 per diluted share a year ago. For the nine months, the company's sales amounted to $258.9 million, up from $180.8 million a year earlier. This variation reflects a $72.1 million contribution from APPH and a $6.7 million increase resulting from year-over-year currency fluctuations. Adjusted EBITDA totalled $31.9 million up from $22.6 million in the prior year. Adjusted net income was $12.0 million, or $0.34 per diluted share, versus $9.3 million, or $0.29 per diluted share, a year ago. Net income was $4.864 million or $0.14 per diluted share against net income of $8.006 million or $0.25 per diluted share a year ago.


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