Highlights Sales of $184.1 million, up 18.0% from $156.0 million a year ago Operating income of $27.6 million, compared to $9.9 million a year ago Adjusted EBITDA1 of $33.1 million or 18.0% of sales, compared to $19.6 million or 12.6% of sales a year ago Earnings per share increased to $0.61 compared to $0.18 last year and to $0.49 from $0.18 on an adjusted1 basis Cash flows related to operating activities increased to $19.7 million compared to $4.5 million last year Backlog reached a record $951.0 million, bolstered by both civil and defence orders, up from $864.0 million last year LONGUEUIL, QC, May 22, 2024 /CNW/ - Héroux-Devtek Inc. (TSX:HRX) ("Héroux-Devtek" or the "Corporation"), a leading international manufacturer of aerospace products and the world's third-largest landing gear manufacturer, today reported its financial results for the fourth quarter ended March 31, 2024. Unless otherwise indicated, all amounts are in Canadian dollars. "I am proud to announce a very strong quarter of sales and profitability. These results were driven by the many measures put in place over the last two years to improve productivity through automation, the stabilization of our production systems and pricing initiatives. I am confident that this marks the beginning of a sustainable trend of improving performance propelled by our great teams who are now better equipped to manage the persistent supply chain issues," said Martin Brassard, President and CEO of Héroux-Devtek. "As we look ahead, the current macroeconomic environment is favourable for Héroux-Devtek, especially in the defence sector. 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" added Mr. Brassard. FINANCIAL HIGHLIGHTS Quarters ended March 31, Twelve months ended March 31, (in thousands, except per share data) 2024 2023 2024 2023 Sales $        184,053 $        155,978 $        629,767 $        543,622 Operating income 27,612 9,879 59,763 26,198 Adjusted EBITDA1 33,069 19,595 92,184 61,366 Net income 20,693 6,288 38,271 13,825