Operating income of the Flight Support Group was $25.4 million in the fourth quarter of fiscal 2012 compared to $26.6 million in the fourth quarter of fiscal 2011. The slight decrease in operating income is primarily attributed to the previously mentioned normalization of demand within our specialty product lines. Operating income of the Flight Support Group increased 9% to a record $103.9 million for the fiscal year ended October 31, 2012, up from $95.0 million for the fiscal year ended October 31, 2011. The increase in operating income for the fiscal year ended October 31, 2012 principally reflects the previously mentioned increased sales of higher margin products within our aftermarket replacement parts and repair and overhaul services product lines.The Flight Support Group's operating margin was 17.0% in the fourth quarter of fiscal 2012 compared to 18.4% in the fourth quarter of fiscal 2011. The decrease in operating margin principally reflects the dilutive impact of inventory purchase accounting adjustments for recent acquisitions and certain year-end valuation adjustments. The Flight Support Group's operating margin improved to 18.2% for the fiscal year ended October 31, 2012, up from 17.6% for the fiscal year ended October 31, 2011 mostly resulting from increased sales volumes of certain higher margin products.
HEICO Corporation Reports Record Sales, Operating Income And Net Income For The Fourth Quarter And Full Year Of Fiscal 2012; Targets Continued Growth In Fiscal 2013
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