Wesco Aircraft Holdings Inc. (WAIR: Quote) Tuesday reported an increase in profit for the third quarter, driven mainly by higher revenues.
The Valencia, California-based company's third-quarter net profit was $22.29 million or $0.23 per share, compared to $13.96 million or $0.15 per share last year.
Adjusted income for the quarter rose to $22.58 million or $0.24 per share from $21.14 million or $0.23 per share in the prior-year quarter.
On average, eight analysts polled by Thomson Reuters expected the company to earn $0.23 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter grew 5.2 percent to $189.35 million from $180.01 million in the prior-year quarter. Six analysts had a consensus revenue estimate of $188.12 million for the quarter.
Looking ahead, the company backed its full-year 2012 guidance and expects earnings in the range of $0.90 to $0.95 per share and adjusted earnings to range between $0.92 and $0.97 per share. Revenues for the year are anticipated in the range of $740 million to 760 million. Analysts currently expect the company to earn $0.95 per share for the year, with revenues of $761.00 million.
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by RTT Staff Writer
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