HEICO Q1 Profit Tops View - Quick Facts

(RTTNews) - HEICO Corp. (HEI), a maker of aerospace and defense-related products, Tuesday reported first-quarter net income attributable to the company of $27.5 million or $0.41 per share, compared to $20.0 million or $0.30 per share in the comparable quarter last year.

Net sales for the latest first quarter rose 23% to $266.83 million from $216.49 million a year ago.

On average, analysts polled by Thomson Reuters estimated earnings of $0.35 per share on revenues of $251.54 million for the quarter. Analysts' estimates typically exclude special items.

Looking forward to fiscal 2014, Heico said based on its current economic visibility, it is increasing net income growth estimate to 10% - 12%, up from the prior 8% - 10% growth estimate. The company continues to estimate fiscal 2014 year-over-year growth in net sales of 12% - 14%.