HEICO posts 3rd quarter 2016 net income of US$42.0m

HEICO CORPORATION reported that net income increased 22% to US$42.0m in the third quarter of fiscal 2016, up from US$34.4m in the third quarter of fiscal 2015. In the first nine months of fiscal 2016, net income increased 18% to a record US$111.9m up from US$95.1m in the first nine months of fiscal 2015. Net sales increased 19% to a record US$356.1m in the third quarter of fiscal 2016, up from US$300.4m in the third quarter of fiscal 2015. In the first nine months of fiscal 2016, net sales increased 18% to a record US$1,013.0m, up from US$860.0m in the first nine months of fiscal 2015. Operating income increased 19% to a record US$69.9m in the third quarter of fiscal 2016, up from US$58.5m in the third quarter of fiscal 2015. In the first nine months of fiscal 2016, operating income increased 18% to a record US$189.3m, up from US$160.7m in the first nine months of fiscal 2015.