HEICO Corporation reports record net sales for fiscal 2014

HEICO Corporation reported that net income increased 18% to a record US$121.3m, up from US$102.4m in the fiscal year ended October 31, 2013. For the full fiscal year ended October 31, 2014, operating income increased 11% to US$203.4m, up from US$183.6m in the fiscal year ended October 31st, 2013. Operating income was US$53.7m in the fourth quarter of fiscal 2014, as compared to US$55.6m in the fourth quarter of fiscal 2013.The Company’s consolidated operating margin was 18.4% and 18.0% in the fourth quarter and fiscal year ended October 31, 2014, respectively, as compared to 19.3% and 18.2% in the fourth quarter and fiscal year ended October 31, 2013, respectively. Cash flow provided by operating activities totaled a record US$190.7m in the fiscal year ended October 31, 2014, representing 157% of net income and exceeded our prior expectations of US$160m. This compared to US$131.8 million in the fiscal year ended October 31st, 2013.