Magellan Aerospace Corp. (TSX:MAL) said Friday it earned $2 million in its latest quarter, down from $7.4 million a year ago.
The maker of aircraft parts said the profit amounted to five cents per diluted share for the quarter ended Dec. 31 compared with a profit of 39 cents per diluted share a year earlier.
Revenue totalled $165.8 million, down from $180.1 million.
Magellan also said Friday it has signed a deal to amended its credit agreement with its existing lenders and completed a subordinated loan financing announced at the end of last year.
Shares in the company, which reported its results after the close of markets, were up 24 cents at $2.09 on the Toronto Stock Exchange.
Filed Under: Aerospace + defense