07:38 AM EDT, 05/22/2024 (MT Newswires) -- Heroux-Devtek Inc. ( HERXF ) , the world's third-largest airplane landing gear manufacturer, on Wednesday reported fourth-quarter adjusted earnings more than doubled on improved productivity.

Adjusted earnings for the quarter came in at $16.7 million, or $0.49 per diluted share, up from $6.3 million, or $0.18 per diluted share, a year earlier. Four analysts surveyed by Capital IQ expected $0.31.

Sales for the quarter ended March 31 were $184.1 million, up 18% from $156 million a year earlier. The sales rose mainly because of the actions taken to better navigate the challenges of the current environment, the company said.

Four analysts polled by Capital IQ expected $170.6 million.

Adjusted EBITDA for fiscal Q4 was $33.1 million, up from $19.6 million a year earlier.

The company noted that Civil sales rose 55% to $75.8 million, mainly driven by increased deliveries for the Boeing 777, Embraer Praetor, and E2 programs. Defence sales reached $108.2 million, a 1.1% increase from the same quarter last year, mainly due to higher aftermarket business for legacy programs and higher deliveries for the Sikorsky CH-53K and Lockheed Martin F-35 programs, partly offset by lower demand for Boeing F-18 production.

Also, gross profit for fiscal Q4 rose to $39.4 million from $22.7 million, or 21.4% of sales from 14.6% last year, due to the positive impact of higher volume and pricing initiatives, partly offset by the effects of inflation on costs.

"As we look ahead, the current macroeconomic environment is favourable for Heroux-Devtek ( HERXF ), especially in the defence sector," Martin Brassard, president and CEO of Heroux-Devtek ( HERXF ), said. "The demand from prime contractors around the world for our products has never been higher, which demonstrates the trust and recognition our clients place in the quality, safety, and excellence of our products."