Wesco Aircraft reports record revenue and earnings for full fiscal year 2013

Wesco Aircraft Holdings reported revenue for the fiscal fourth quarter was $234.3m, showing an increase of 10.5% compared to $212.2m in the prior year period. The increase in the North America segment was 9.8% over the prior year. Wesco again demonstrated strong international growth during the quarter with revenues in the Rest of World segment increasing by 22.7% compared to the prior year. In the fourth quarter, ad hoc, JIT and LTA sales as a percentage of net sales represented 39%, 28% and 33% of sales, respectively. Net Income for the fourth quarter of fiscal 2013 was $30.0m, resulting in Diluted EPS of $0.31. This compared to $27.0m in the prior year period. The increase in net income was due to sustained growth in commercial activity in North America, rapid growth in rest of world commercial sales and expansion of MRO sales. Adjusted EBITDA for the fourth quarter 2013 was $53.0m, a 15.5% increase, compared to $45.9m in the fourth quarter of 2012. Adjusted Net Income was $31.7m, resulting in Adjusted Diluted EPS of $0.33, compared to $27.4m in the prior year period.