May 11, 2008
Magellan Aerospace reports Q1 profit of $2.1 M, up from $1.7M loss a year ago
“Continued growth in all sectors of the aerospace industry, and relative stability in foreign exchange rates that impact Magellan, allowed Magellan to increase revenue and profit in spite of temporary slowdowns in selected pre-production programs.”
- Magellan Aerospace Corp. (TSX:MAL) said Friday it earned a first-quarter profit of $2.1 million, compared with a loss of $1.7 million a year ago.
The company, which makes aircraft parts and does aircraft maintenance work, said the profit amounted to two cents per share for the three months ended March 31 compared with a loss of two cents per share a year ago.
Quarterly revenue was $161.1 million, up from $144.1 million.
"The first quarter of 2008 showed improvement over previous periods, and was consistent with the performance expected by Magellan management," the company said. Read more
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