HEICO Corporation reports net income up 19% for second quarter

HEICO Corporation reported that net income increased 19% to $12,573,000 for the second quarter of fiscal 2010 up from $10,541,00 for the second quarter of fiscal 2009. For the first six months of fiscal 2010, net income increased 11% to $24,366,000 up from $21,858,000 for the first six months of fiscal 2009, which included a $1.2 million benefit from settling an income tax audit. Operating income increased 22% to $25,957,000 in the second quarter of fiscal 2010, up from $21,319,000 in the second quarter of fiscal 2009. For the first six months of fiscal 2010, operating income increased 18% to $50,501,000, up from $42,772,000 in the first six months of fiscal 2009. Net sales increased 18% to $153,845,000 in the second quarter of fiscal 2010, up from $130,166,000 in the second quarter of fiscal 2009. For the six months of fiscal 2010, net sales increased 11% to $289,380,000, up from $260,603,000 in the first six months of fiscal 2009.