Heico Corp., a niche technology company with headquarters in Miami and Hollywood, reported record sales and profits for the fourth quarter and fiscal year on Tuesday.
Net sales increased 19 percent over last year to more than $287 million for the quarter, with quarterly profits jumping 25 percent year over year to $29.8 million.
For the fiscal year that ended Oct. 31, net sales broke $1 billion, an increase of 12 percent compared to fiscal 2012. Profits for the year increased 20 percent to more than $102 million.
The company anticipates year-over-year net sales growth of 12-14 percent and net income growth of 8-10 percent.
Also this week, Heico declared a regular semi-annual cash dividend of $.06 per share and a special dividend of $.35 per share. Both will be paid on Jan. 17.
Heico makes replacement parts for airplanes as well as components for the for the space, defense, communications, medical and computer industries.