Operating income of the Electronic Technologies Group increased 67% to a record $25.0 million in the fourth quarter of fiscal 2012, up from $14.9 million in the fourth quarter of fiscal 2011 and increased 30% to a record $77.4 million for the fiscal year ended October 31, 2012, up from $59.5 million for the fiscal year ended October 31, 2011. The increase in operating income for the fourth quarter and fiscal year ended October 31, 2012 is principally attributed to increased sales volumes.The Electronic Technologies Group's operating margin improved to 26.5% for the fourth quarter of fiscal 2012, up from 22.8% for the fourth quarter of fiscal 2011. The improved operating margin is primarily attributed to the previously mentioned increased sales volumes of higher margin products. The Electronic Technologies Group's operating margin was 23.4% for the fiscal year ended October 31, 2012 compared to 26.1% for the fiscal year ended October 31, 2011. The decrease in operating margin principally reflects the dilutive impact of approximately 4% from lower operating margins realized by the 3D Plus and Switchcraft acquisitions. The lower operating margins of these businesses are principally attributed to amortization expense associated with intangible assets and inventory purchase accounting adjustments aggregating approximately $10 million during fiscal 2012.
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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