Heico Breaks Sales Record with Exponential Growth
Heico Corporation, a publicly-traded technology company, broke a sales record by exceeding $1 billion in total sales in 2013 for yet another year. This represents a 12% increase in total net sales, bringing the total to $1.008 billion, with a corresponding net income of $102.4 million or a 20% increase. Both third quarter and fourth quarter results exceeded initial expectations, with net sales jumping by about 19% each quarter. The growth comes as a result of a boost in credit to $1 billion through 2018, which allows management to acquire high-quality businesses.
Estimates put yearly growth at an average of 20% for the next several years, due mainly in part to acquisitions that are set to take place. Another considerable factor would be the increased range of aviation and electronics parts that the company is offering. More and more commercial airlines are turning to Heico to purchase FAA-PMA parts that are much more cost-effective than comparable products by big names such as Pratt & Whitney and GE.
Heico Corporation, based in Hollywood, Florida, generates $55 million in annual net income with only 2,350 employees. The company is involved in the design and manufacturing of aerospace, defense, and electronics products around the world, serving a customer base that spans commercial aviation, defense, space, medical, telecommunication, and electronic industries. Their specialties are developing FAA-PMA approved parts at a fraction of the cost of brand-name parts. They also offer aircraft component maintenance, repair, and overhaul, and electrical and electro-optical systems
ASAP Semiconductor, through our proprietary website ASAP Purchasing, specializes in the distribution of aerospace products around the world for both commercial, civil, and military applications. We work with Heico to ensure we carry the most highly-demanded spare parts for your aircraft requirements. Browse our capabilities on www.asap-purchasing.com and contact us today at email@example.com for a quote.
Posted on December 3, 2014