HEICO Corp. (NYSE:HEI) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
HEICO Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 22.22% to $0.44 in the quarter versus EPS of $0.36 in the year-earlier quarter.
Revenue: Rose 9.89% to $237.71 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: HEICO Corp. reported adjusted EPS income of $0.44 per share. By that measure, the company beat the mean analyst estimate of $0.40. It beat the average revenue estimate of $229.22 million.
Quoting Management: Laurans A. Mendelson, HEICO’s Chairman and CEO, commented on the Company’s second quarter results stating, “Our second quarter fiscal 2013 results exceeded expectations and contributed to record six month net sales, operating income and net income. These record results were driven by strong second quarter organic growth in both our Flight Support and Electronic Technologies segments. Additionally, we are extremely excited about our acquisition of Reinhold Industries, which we expect to complete within the next 10 to 30 days. As previously reported, we anticipate Reinhold Industries to be accretive to HEICO’s earnings within the first 12 months.”
Key Stats (on next page)…