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What: Shares of Wesco Aircraft Holdings were flying higher today, gaining as much as 13% after posting an impressive quarterly earnings report.
So what: The aerospace supply chain management specialist topped earnings estimates by $0.06, beat on the top line as well, and boosted earnings estimates for the full year. EPS jumped 50% to $0.33, while revenue grew 24% to $225.9 million. Its acquisition of Interfast helped drive sales growth, as organic revenue growth was only 14%, and international sales were also strong, up 33%. CEO Randy Snyder also expressed optimism about the rest of the year, saying the company had seen an increase in bookings, additions to existing contracts, and new customers signing initial contracts.
Now what: Wesco bumped up its fiscal 2013 EPS guidance to $1.17-$1.21, ahead of investor estimates at $1.15, and boosted its revenue outlook. Investors probably shouldn't expect an earnings beat this strong every quarter, but the pieces seem to be coming together with the integration of the Interfast acquisition and the increase in bookings. I'd expect shares to move higher from here.
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The article Why Wesco Aircraft Shares Took Off originally appeared on Fool.com.
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