Wesco Aircraft Holdings Inc. (WAIR) Monday reported an increase in profit for the second quarter, driven mainly by higher revenues.
The Valencia, California-based company's second-quarter net income was $29.3 million or $0.31 per share, compared to $19.7 million or $0.21 per share in the comparable quarter last year.
Adjusted income for the quarter rose to $31.2 million or $0.33 per share from $20.7 million or $0.23 per share in the prior-year quarter. On average, nine analysts polled by Thomson Reuters expected the company to earn $0.27 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter grew to $225.86 million from $182.14 million in the prior-year quarter, while six analysts had a consensus revenue estimate of $214.00 million for the quarter.
Looking ahead to fiscal 2013, the company reaffirmed its earnings outlook and continues to expect expects earnings in the range of $1.08 to $1.12 per share and adjusted earnings to range between $1.14 and $1.19 per share.
Revenues for the year are anticipated in the range of $880 million to $900 million. Analysts currently expect the company to earn $1.18 per share for the year, with revenues of $886.81 million.
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