HEICO Corporation reports first half fiscal year 2014 net income of $55.8m

HEICO CORPORATION reported that net income increased 20% to $28.4m in the second quarter of fiscal 2014, up from $23.7 million in the second quarter of fiscal 2013. In the first six months of fiscal 2014, net income increased 28% to $55.8m, up from $43.7m in the first six months of fiscal 2013. Operating income increased 10% to $49.2m in the second quarter of fiscal 2014, up from $44.7m in the second quarter of fiscal 2013. In the first six months of fiscal 2014, operating income increased 25% to $99.6m, up from $79.6m in the first six months of fiscal 2013. The Company’s consolidated operating margin was 17.4% and 18.8% in the second quarter of fiscal 2014 and 2013, respectively. The Company’s consolidated operating margin improved to 18.1% in the first six months of fiscal 2014, up from 17.5% in the first six months of fiscal 2013. Net sales increased 19% to $282.2m in the second quarter of fiscal 2014, up from $237.7m in the second quarter of fiscal 2013. In the first six months of fiscal 2014, net sales increased 21% to $549.1m, up from $454.2m in the first six months of fiscal 2013.