Heico Corp., a niche technology company with headquarters in Miami and Hollywood, reported record numbers for the fourth quarter and full fiscal year Tuesday.
Net sales jumped 16 percent for the quarter that ended Oct. 31 to more than $242 million; net sales for the full fiscal year increased 17 percent to more than $897 million, a record amount
Profits increased 29 percent to $23.8 million for the fourth quarter. For the full fiscal year, profits jumped 17 percent to $85.1 million, another record.
That far exceeded the company’s December 2011 projections for the fiscal year. Heico had estimated that year-over-year net income growth would be 10-12 percent.
For fiscal 2013, the aerospace, defense and electronics manufacturer is projecting 5-7 percent growth in net sales and net income.
“As we look ahead to fiscal 2013, the general overall uncertainty surrounding the domestic ‘fiscal cliff’ and the euro zone recession may moderate growth in our principal markets,” the company said in a press release. “We remain optimistic in our ability to execute a disciplined and flexible growth strategy while navigating these challenging macro environment circumstances.”
Heico makes components for the space, defense, communications, medical and computer industries as well as replacement parts for airplanes.
Another record year for Heico Corp.
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Another record year for Heico Corp.
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Another record year for Heico Corp.
