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Heroux doesn't expect revenue growth in '09

Aerospace technology manufacturer Heroux-Devtek Inc. is coming off a record year with expectations that revenues will remain stagnant in 2009 as the weakened economy hurts civil aircraft production. "The current economic environment reduces the visibility we normally have and will slow the activity in some of our business segments," CEO Gilles Labbe said. The Quebec-based company said yesterday that it had record revenues and profits last year despite relatively flat earnings during the last three months of the year. Profit grew nearly 13 per cent to $21.4-million on $337.6-million of sales, nearly 10 per cent higher than the prior year. Mr. Labbe said the civil commercial and business jet markets remain challenged. HRX (TSX) lost 13 cents to $4.26.

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