Wesco Aircraft Holdings Q3 Profit Rises; Cuts FY14 Adj. EPS Outlook

(RTTNews) - Wesco Aircraft Holdings Inc (WAIR) Monday reported third-quarter net earnings of $28.8 million, or $0.29 per share, compared to $27.0 million or $0.28 per share in the comparable quarter last year.

Excluding items, adjusted earnings for the quarter rose to $33.0 million or $0.34 per share from $29.5 million or $0.31 per share a year ago.

Revenues for the quarter were $395.63 million, up 72% from $230.24 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.37 per share on revenues of $405.82 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal year 2014, the company now expects earnings in the range of $1.12 to $1.15 per share, adjusted earnings of $1.30 to $1.33 per share on revenues of $1.35 billion to $1.38 billion. Earlier, the company expected adjusted earnings of $1.33 to $1.38 per share on revenues of $1.33 billion to $1.38 billion.

Analysts expect earnings of $1.35 per share on revenues of $1.37 billion for the year.