Good Week  

Heroux-Devtek. The Canadian manufacturer of aerospace and industrial products turned around a loss of £2.4 million in the previous quarter to record a net income from continuing operations of $0.7 million. The company posted quarterly sales 23% higher year-on-year of $66.3 million. The company's cash flow doubled to $4.9 million. Improved productivity at its landing gear division as well as strength in the civil and military markets helped results, the company says.

 

Esterline Technologies, which warns that its third-quarter earnings will be lower than forecast because of programme delays in its sensors and systems segment, an accident last month at its UK Wallop Defence Systems advanced materials subsidiary, and export issues between the USA and China in its avionics and controls division. The company is forecasting earnings per share between $0.40 and $0.45. Its share price fell from over $40 to as low as $32 after the announcement.

 

Bad week 

"[It will be better than] the gold-plated Taj Mahal proposed by the BAA airport monopoly."

Michael O'Leary, Ryanair chief executive, on new BAA owner Ferrovial's scaled-down plans for a second terminal at London Stansted

MO 

Source: Flight International

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