Heico reports second-quarter increase

 

hsampson@MiamiHerald.com

Niche technology company Heico Corp., with headquarters in Miami and Hollywood, reported increased net sales and profits in the second fiscal quarter.

Late Tuesday, the company said net sales reached more than $282 million for the three months that ended April 30, a 19 percent increase compared to the previous year. Profits jumped 20 percent to $28.4 million.

Heico, which manufactures replacement parts for airplanes as well as components for the space, defense, communications, medical and computer industries, said it expects higher demand for the majority of its products for the rest of the fiscal year, “moderated by lower demand for certain of our defense-related products.”

The company increased its full-year forecast for net income growth to 12-14 percent over fiscal 2013. The previous estimate called for 10-12 percent growth.

HANNAH SAMPSON

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