This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

HEICO Corporation Reports Record Net Sales And Net Income For The First Quarter Of Fiscal 2013; Full Year Sales And Net Income Growth Estimates Raised

The Electronic Technologies Group's net sales increased 6% for the first quarter of fiscal 2013 to $78.8 million, up from $74.5 million for the first quarter of fiscal 2012.  The increase in net sales for the first quarter of fiscal 2013 principally reflects additional net sales of $4.2 million contributed by the fiscal 2012 acquisitions.  Further, the net sales increase reflects greater demand for certain space products resulting in a $4.4 million net sales increase from this product line partially offset by a $2.3 million and $1.7 million net sales decline from defense and industrial products, respectively.  Ongoing economic uncertainty coupled with weaker market conditions for defense related products due to the threat of United States defense spending reductions contributed to lower sales of certain Electronic Technologies Group products during the first quarter of fiscal 2013.  Despite the uncertainty about government budget reductions, we anticipate improving demand and moderate organic growth within the Electronic Technologies Group principally during the second half of fiscal 2013.       

The Electronic Technologies Group's operating income was $15.5 million for the first quarter of fiscal 2013 compared to $16.2 million for the first quarter of fiscal 2012.  The decrease in operating income principally reflects a less favorable product mix of certain higher margin products in the first quarter of fiscal 2013, more new product research and development expenses and increased intangible asset amortization expense from our fiscal 2012 acquisitions.

The Electronic Technologies Group's operating margin was 19.7% for the first quarter of fiscal 2013 compared to 21.8% for the first quarter of fiscal 2012.  The decrease in operating margin principally reflects the previously mentioned unfavorable product mix, increase in new product research and development expenses and higher amortization expense.

We also currently estimate growth in full year net sales consistent with the consolidated HEICO and Flight Support Group estimates, and full year Electronic Technologies Group operating margins that approximate those in fiscal 2012."        

4 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs