U.S. Markets closed

Heico tops Street 4Q forecasts

HOLLYWOOD, Fla. (AP) _ Heico Corp. (HEI) on Monday reported fiscal fourth-quarter net income of $53.7 million.

On a per-share basis, the Hollywood, Florida-based company said it had net income of 62 cents.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.

The defense and aerospace contractor posted revenue of $421.2 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $407.7 million.

For the year, the company reported profit of $186 million, or $2.14 per share. Revenue was reported as $1.52 billion.

Heico shares have increased 55 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $95.96, an increase of 56 percent in the last 12 months.


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