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Heico meets 1Q profit forecasts

HOLLYWOOD, Fla. (AP) _ Heico Corp. (HEI) on Tuesday reported fiscal first-quarter profit of $40.9 million.

On a per-share basis, the Hollywood, Florida-based company said it had profit of 59 cents. Earnings, adjusted for non-recurring gains, were 56 cents per share.

The results matched Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 56 cents per share.

The defense and aerospace contractor posted revenue of $343.4 million in the period.

Heico shares have climbed 6.5 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $82.15, a rise of 43 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HEI at https://www.zacks.com/ap/HEI

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Keywords: Heico, Earnings Report