Heico Corp. reports fourth-quarter, full-year earnings
.JPG "HEICO, a high-tech manufacturer that produces and sells thousands of precision, FAA-approved replacement parts for the world's biggest airlines. Among the parts they make are jet engine combustion chambers, jet turbine blades, bearings, rings and landing gear parts. In this file photo, Vladimir Macko checks the resistance weld as it leaves the welding machine.")
Technology company Heico Corp. reported record net sales and profits for the fiscal year that ended Oct. 31.
The company, which has headquarters in Miami and Hollywood, said net sales increased 12 percent year-over-year to $1.1 billion for fiscal 2014. Net income jumped 18 percent to $121.3 million.
For the fourth fiscal quarter, the company said net sales increased 2 percent to more than $292 million. Profits for the quarter increased from $29.8 million in 2013 to $32.1 million this year.
Heico manufactures replacement parts for airplanes as well as components for the space, defense, communications, medical and computer industries. For the upcoming year, the company said it is forecasting sales and net income growth of 8-10 percent over fiscal 2014.
This story was originally published December 16, 2014 at 6:07 PM with the headline "Heico Corp. reports fourth-quarter, full-year earnings."