HEICO Corp. (HEI), a maker of aerospace and defense-related products, Wednesday reported second-quarter net income attributable to the company of $23.7 million or $0.44 per share, compared to $19.0 million or $0.36 per share in the comparable quarter last year.
Net sales for the latest second quarter rose 10% to $237.71 million from $216.31 million a year ago.
On average, analysts polled by Thomson Reuters estimated earnings of $0.40 per share on revenues of $229.22 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal year 2013, the company raised its outlook and now expects net sales to grow 8% - 10%, and net income to increase 11% - 13%. Earlier, it estimated net sales to grow 6% - 8% and net income to grow 9% - 11%.
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