HEICO reports 2nd quarter net income up 17%

HEICO CORPORATION reported that net income increased 17% to US$38.7m in the second quarter of fiscal 2016, up from US$33.1m in the second quarter of fiscal 2015. In the first six months of fiscal 2016, net income increased 15% to US$69.9m (after a US$.03 reduction related to nonrecurring acquisition costs incurred in the first quarter of fiscal 2016), up from US$60.7m in the first six months of fiscal 2015. Operating income increased 20% to US$66.8m in the second quarter of fiscal 2016, up from US$55.8m in the second quarter of fiscal 2015. In the first six months of fiscal 2016, operating income increased 17% to US$119.4m, up from US$102.2m in the first six months of fiscal 2015. The Company’s consolidated operating income and consolidated operating margin in the first six months of fiscal 2016 reflect a US$3.1m and .5% reduction, respectively, for nonrecurring expenses related to a first quarter 2016 acquisition.