Heico Q4 Profit Rises

(RTTNews) - Aerospace and defense products maker Heico Corp. (HEI), Tuesday reported an increase in profit for the fourth-quarter, as revenues grew across both flight support and electronic technologies segment. Earnings for the quarter trumped analysts' estimates, but revenues fell short.

Heico's fourth-quarter profit rose to $32.1 million or $0.48 per share from $29.8 million or $0.44 per share last year. On average, 12 analysts polled by Thomson Reuters estimated earnings of $0.46 per share for the quarter. Analysts' estimates typically exclude special items.

Heico's fourth-quarter sales grew 2 percent to $292.2 million from $287.4 million a year ago. Analysts had a consensus revenue estimate of $303.83 million for the quarter.

Segment-wise, flight support sales increased 3 percent to $194.8 million, while electronic technologies sales grew to $100.1 million from $99.9 million last year.

Operating margin dropped to 18.4 percent from 19.3 percent last year.

Looking forward to the full year 2015, the company estimates year-over-year growth in both net sales and net income of about 8 to 10 percent over fiscal 2014 level.

HEI closed Tuesday's trading at $56.99, up $3.17 or 5.89%, on the NYSE. The stock further gained $0.57 or 1.00% in the after-hours trade.