Montreal’s Heroux-Devtek Inc. was down after it reported a first-quarter profit of $12.5-million, up from $4.0 million a year ago as its sales increased 23.7 per cent.
The aircraft landing gear maker says its profit amounted to 37 cents per diluted share for the quarter ended June 30 compared with 12 cents per diluted share a year earlier.
Sales totalled $174.0-million for the quarter, up from $140.7-million in the same quarter last year.
On an adjusted basis, the company says it earned 39 cents per share in its latest quarter, up from an adjusted profit of 12 cents per share a year earlier.
Heroux-Devtek announced a deal last month to acquired by U.S. private equity firm Platinum Equity Advisors LLC in an agreement valued at $1.35 billion.
Under the agreement, Platinum Equity will pay $32.50 in cash per share for the company.