Monksdream
1 year ago
HEICO Corp NYSE: HEI
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Industrials : Aerospace & Defense | Mid Cap GrowthCompany profile
HEICO Corporation is a manufacturer of jet engine and aircraft component replacement parts. The Company operates through two segments: Flight Support Group (FSG) and Electronic Technologies Group (ETG). The FSG segment consists of HEICO Aerospace Holdings Corp. and HEICO Flight Support Corp. and their subsidiaries. The FSG segment designs and manufactures jet engine and aircraft component replacement parts. In addition, the FSG segment repairs, overhauls and distributes jet engine and aircraft components, avionics and instruments for domestic and foreign commercial air carriers and aircraft repair companies, as well as military and business aircraft operators. The ETG segment consists of HEICO Electronic Technologies Corp. and its subsidiaries. ETG segment designs, manufactures and sells various types of electronic, data and microwave, and electro-optical products, including infrared simulation and test equipment, laser rangefinder receivers and electrical power supplies.
leftovers
6 years ago
HEICO Corporation (NYSE:HEI.A) (NYSE:HEI) reported today that its 3D-Plus and VPT subsidiaries supplied mission-critical equipment for NASA’s ICESat-2 mission, which launched on September 15th from the Vandenberg Air Force Base in California. This spacecraft is the second iteration of the Ice, Cloud and Land Elevation Satellite and was launched on the final Delta II rocket.
HEICO’s Buc, France-based 3D-Plus provided multiple radiation tolerant data memory modules onboard the ICESat-2 spacecraft. Blacksburg, VA-based VPT supplied DC-to-DC converter products used to power GPS tracking hardware onboard the launch vehicle and FPGA processors on the spacecraft. Historically, 3D-Plus’ and VPT’s parts have been relied on for many high-profile space missions, such as: Parker Solar Probe, Juno, New Horizons, Dawn and Orion.
The ICESat-2 program is part of NASA’s Earth Observing System, which is dedicated to measuring ice sheet elevation, sea ice thickness and observing land topography and elevation characteristics. The satellite is designed to operate for three years while having enough capacity to last for seven years. Weighing approximately 3,338 pounds, the satellite was launched into a near-circular, near-polar orbit with an altitude of approximately 310 miles and is traveling at 4.3 miles per second. Since the spacecraft will measure certain Earth characteristics to within an inch, it is critical to know where the satellite is positioned and to know where on the planet’s surface that the instrument is taking measurements. Numerous high-tech equipment, such as GPS hardware, lasers, telescopes, detectors and altimeters were embedded into the satellite to fulfill this specific requirement.
Laurans A. Mendelson, Chairman and Chief Executive Officer of HEICO Corporation, along with Victor H. Mendelson, HEICO’s Co-President and Chief Executive Officer of the Electronics Technologies Group, jointly commented, “We are, yet again, happy to congratulate NASA and the 3D-Plus and VPT teams on this successful launch. The ICESat-2 is a critical mission that will help our society understand and monitor the planet in which we all live. We thank the entire 3D-Plus and VPT teams for their continued commitment to outstanding innovation and excellence.”
Pierre Maurice, 3D-Plus’ President and Co-Founder, and Dan Sable, VPT’s CEO and Co-Founder, jointly stated, “Our respective teams at 3D-Plus and VPT are honored to work with NASA and its suppliers to support such an important mission. Both of our companies strive to work with these partners on ambitious and meaningful projects that are at the forefront of scientific exploration, such as the ICESat-2 and the Parker Solar Probe, which recently launched this August. We also thank our world-class teams for their dedication and unparalleled efforts.”
HEICO Corporation is engaged primarily in the design, production, servicing and distribution of products and services to certain niche segments of the aviation, defense, space, medical, telecommunications and electronics industries through its Hollywood, Florida-based Flight Support Group and its Miami, Florida-based Electronic Technologies Group. HEICO’s customers include a majority of the world’s airlines and overhaul shops, as well as numerous defense and space contractors and military agencies worldwide, in addition to medical, telecommunications and electronics equipment manufacturers. For more information about HEICO, please visit our website at http://www.heico.com.
leftovers
6 years ago
What Pace? Holy Smokes Batman we are flying! 3rd Quarter of Fiscal 2018 Net Income up 47% on Operating Income Increase of 33% and Net Sales Increase of 19%
HEICO CORPORATION (NYSE: HEI.A) (NYSE: HEI) today reported that net income increased 47% to a record $67.1 million, or 49 cents per diluted share, in the third quarter of fiscal 2018, up from $45.7 million, or 34 cents per diluted share, in the third quarter of fiscal 2017. In the first nine months of fiscal 2018, net income increased 45% to a record $191.9 million, or $1.40 per diluted share, up from $132.3 million, or 98 cents per diluted share, in the first nine months of fiscal 2017.
All share and per share information has been adjusted retrospectively to reflect 5-for-4 stock splits distributed by the Company in January 2018 and June 2018.
Operating income increased 33% to a record $101.4 million in the third quarter of fiscal 2018, up from $76.1 million in the third quarter of fiscal 2017. In the first nine months of fiscal 2018, operating income increased 25% to a record $272.5 million, up from $217.2 million in the first nine months of fiscal 2017.
The Company's consolidated operating margin improved to 21.8% in the third quarter of fiscal 2018, up from 19.4% in the third quarter of fiscal 2017. The Company's consolidated operating margin improved to 21.0% in the first nine months of fiscal 2018, up from 19.7% in the first nine months of fiscal 2017.
Net sales increased 19% to a record $465.8 million in the third quarter of fiscal 2018, up from $391.5 million in the third quarter of fiscal 2017. Net sales increased 18% to a record $1,300.8 million in the first nine months of fiscal 2018, up from $1,103.6 million in the first nine months of fiscal 2017.
In the first quarter of fiscal 2018, the United States (U.S.) government enacted significant changes to existing tax law, including a reduction in the U.S. corporate tax rate. The Company’s effective tax rate for the first nine months of fiscal 2018 was 17.9%, down from 29.8% for the first nine months of fiscal 2017. Net income in the first nine months of fiscal 2018 was favorably impacted by approximately $30.7 million, or 22 cents per diluted share, including approximately $11.9 million, or 9 cents per diluted share, which resulted from one-time tax benefits principally due to the remeasurement of the Company’s net deferred tax liabilities in the first quarter of fiscal 2018.
leftovers
6 years ago
WOW I see some fresh stock was deposited into my account yesterday! Didn't even see it coming another stock dividend! NICE!
MIAMI & HOLLYWOOD, Fla.--(BUSINESS WIRE)--Jun. 28, 2018-- HEICO Corporation (NYSE:HEI.A) (NYSE:HEI) today reported that all shares of both its Class A Common Stock and its Common Stock will commence trading today on a “post-split” basis to reflect the Company’s previously announced 5-for-4 stock split. Accordingly, the prices of both the Class A Common Stock and the Common Stock will automatically be adjusted downward by 20% from the New York Stock Exchange closing price on June 27, 2018 for the split at the opening of New York Stock Exchange trading this morning.
The stock split was effective on June 28, 2018 to shareholders of record on June 21, 2018. Cash will be paid in lieu of fractional shares.
In addition, on July 19, 2018, the Company will pay a $.06 per share semi-annual cash dividend on each post-split share to shareholders of record as of the close of business on July 11, 2018. The cash dividend was increased by 7% from the prior cash dividend and reflects a cumulative 17% increase in the past year.
leftovers
7 years ago
[HEI] doing the happy Dance! Touching 93 nice to see it back in the 90's! Looking Great..... Here's the latest news!!!
Dukane Seacom Acquires Aerospace Electronics Product Line of Instrumar
Yesterday \ M2 Communications
Dukane Seacom Acquires Aerospace Electronics Product Line of Instrumar M2 Communications
19 April 2018 - US-based underwater locator beacon provider Dukane Seacom, Inc. has acquired 100% of the business and assets of the emergency locator transmitter (ELT) beacon product line of St. John's, Newfoundland, Canada-based Instrumar Ltd. in an all-cash transaction, the company said.
Dukane Seacom is part of the electronic technologies group of HEICO Corp. (NYSE: HEI.A) (NYSE: HEI).
Terms of the transaction were not disclosed.
HEICO said that it expects the acquisition to be accretive to its earnings within a year following the purchase. Further financial terms and details were not disclosed.
The ELT Product Line, which has a significant installed base on large commercial transport aircraft, designs and manufactures emergency locator transmitter beacons for the commercial aviation and defense markets.
The ELT product line will be integrated into Dukane Seacom's existing Sarasota, FL facility within a year following closing.
HEICO said the ELT product line acquisition is consistent with its long-term strategy of acquiring highly engineered products and unique technologies.
The Dukane Seacom team has a strong, acquisitive track record, as they have successfully acquired four businesses and/or product lines in the past six years. This acquisition marks HEICO's sixth in the past 12 months.
Dukane Seacom and its sister company, Radiant Power Corp., are focussed on the design and manufacture of underwater locator beacons, emergency power supplies, power distribution and controls, flight deck sensors and indicators, and passenger comfort products for the aerospace and military markets.
HEICO Corp. is engaged primarily in the design, production, servicing and distribution of products and services to certain niche segments of the aviation, defense, space, medical, telecommunications and electronics industries through its Florida-based flight support group and electronic technologies group.