HEICO Corporation reported that net income increased 37% to a record $20,402,000 for the third quarter of fiscal 2011, up from $14,930,000 for the third quarter of fiscal 2010. For the first nine months of fiscal 2011, net income increased 38% to $54,306,000 up from $39,296,000 for the first nine months of fiscal 2010.
Operating income increased 23% to $35,706,000 in the third quarter of fiscal 2011, up from $28,993,000 in the third quarter of fiscal 2010. For the first nine months of fiscal 2011, operating income increased 27% to $100,991,000, up from $79,494,000 in the first nine months of fiscal 2010. The consolidated operating margin was 18.1% for the third quarter of fiscal 2011, compared to 18.3% for the third quarter of fiscal 2010. For the first nine months of fiscal 2011, the consolidated operating margin improved to 18.2%, up from 17.8% for the first nine months of fiscal 2010.
Net sales increased 25% to $197,267,000 in the third quarter of fiscal 2011, up from $158,270,000 in the third quarter of fiscal 2010. For the first nine months of fiscal 2011, net sales increased 24% to $555,972,000, up from $447,650,000 in the first nine months of fiscal 2010.
