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What: Shares of HEICO Corporation jumped as much as 12% today after beating estimates in its earnings report, and raising its guidance.
So what: The aerospace manufacturer delivered a 24% increase in net income, good for an EPS of $0.44, or $0.04 above the analyst consensus. Revenues grew 10%, to $237.7 million, cruising past estimates at $229.2 million. CEO Laurans Mendelson credited the strong quarter on "organic growth and the successful integration of our fiscal 2012 acquisitions." Heico also posted guidance above estimates
Now what: The strong results for the FAA-approved aerospace supplier came in spite of recent government cutbacks from sequestration, demonstrating Heico's strength going forward. With a P/E of 30 the price looks a little high, but Heico seems well positioned for stable earnings and revenue growth.
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The article Why HEICO Corporation Shares Bounced originally appeared on Fool.com.
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