Business

Heico Corp. reports 17 percent profit jump for second quarter

South Florida company Heico reported higher second-quarter earnings Tuesday. The high-tech manufacturer produces and sells thousands of precision, FAA-approved replacement parts for the world's biggest airlines.
South Florida company Heico reported higher second-quarter earnings Tuesday. The high-tech manufacturer produces and sells thousands of precision, FAA-approved replacement parts for the world's biggest airlines. C.W. GRIFFIN/MIAMI HERALD FILE

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

The company, which manufactures replacement parts for airplanes as well as components for the space, defense, communications, medical and computer industries, said Tuesday that net sales for the quarter that ended April 30 increased 3 percent year-over-year to more than $291 million. Profits jumped 17 percent to just over $33 million.

Heico said it still expects sales and profits to grow 8-10 percent this year compared to fiscal 2014. The company is “actively pursuing numerous acquisition opportunities,” according to a press release.

  Comments