HEICO Corporation reported a strong first quarter with a 54% increase in net income, a 13% increase in operating income, and a 9% increase in net sales. The company's Flight Support Group and Electronic Technologies Group both contributed to the positive results.
Net income increased 54% to a record $121.9 million, or 89 cents per diluted share.
Operating income increased 13% to $111.0 million.
Net sales increased 9% to $506.3 million.
EBITDA increased 13% to $132.8 million.
HEICO anticipates continued net sales growth and is raising its full year net income growth estimate.
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