HEICO Profit Rises; Cuts FY Guidance

(RTTNews) - HEICO Corp (HEI), a maker of aerospace, defense and electronic related products, on Monday reported third-quarter net earnings of $34.4 million or $0.51 per share compared with $33.4 million or $0.49 per share last year.

Revenues for the quarter were up at $300.4 million compared with $291 million in the prior year.

Operating margin improved to 19.5% from 17.2% last year.

For the full year 2015, the company now expects earnings to grow about 8% and sales to increase about 5%, compared with 2014 level. Earlier it expected both earnings and sales to increase 8% to 10%.