HEICO Corporation reports 31% increase in net income

HEICO CORPORATION reported that net income increased 31% to US$40.9m in the first quarter of fiscal 2017, up from US$31.3m in the first quarter of fiscal 2016. Operating income increased 23% to US$64.6m in the first quarter of fiscal 2017, up from US$52.6m in the first quarter of fiscal 2016. The Company’s consolidated operating margin increased to 18.8% in the first quarter of fiscal 2017, up from 17.2% in the first quarter of fiscal 2016. Net sales increased 12% to US$343.4m in the first quarter of fiscal 2017, up from US$306.2m in the first quarter of fiscal 2016.