08:14 AM EDT, 03/14/2025 (MT Newswires) -- Magellan Aerospace ( MALJF ) overnight Thursday swung to a profit in the fourth quarter despite the challenging environment surrounding the aerospace industry.

Net income for the fourth quarter was $15.9 million compared with a net loss of $266,000 a year earlier, due to volume increases, contract rehabilitations on certain programs and favourable product mix. Net income per share was $0.28 in Q4 compared with breakeven per share in the prior-year period.

Quarterly revenue increased to $240.7 million compared with $223.6 million a year earlier.

The company said that supply chain disruptions for material supplies and inflation in materials, supplies, utilities and labour which continued into 2024, have stabilized and are having a smaller impact to the company. Movements in foreign exchange rates in Q4, contract negotiations and volume increases have positively impacted net income in the quarter.

"In the defense market, the outlook remains unchanged with the anticipated strong demand continuing to provide manufacturers with secure order books for the foreseeable future," the company said in a statement.

Magellan also said its business, operations, financial performance and future growth plans may be materially negatively impacted if tariffs or other anti-trade measures are implemented between the U.S. and Canada.