Heico Expands PMA Offerings Despite Slowdown

AINmxReports » September 17, 2008
September 17, 2008, 11:17 AM

PMA parts manufacturer Heico reported it is on track to meet its 2008 earnings-per-share guidance. The Hollywood, Fla. company’s net income increased 18 percent, to a record $12.827 million, or 47 cents per diluted share, for the third quarter of Fiscal Year 2008, up from $10.914 million, or 40 cents per diluted share, for the same period last year. For the first nine months of FY08, net income increased 23 percent, to a record $34.861 million, or $1.28 per diluted share, up from $28.242 million, or $1.05 per diluted share, in the first nine months of Fiscal Year 2007. Although Heico targets the airline industry, which is buying increasing amounts of FAA-approved parts manufactured under Parts Manufacturer Approval regulations, the company sees opportunities in business aviation. “Heico has developed more than 5,000 parts for commercial and regional aircraft/engines,” said executive vice president Josh Abelson, “and we are developing close to 500 new parts each year. We have had tremendous success building partnerships in commercial and regional aviation. There’s no reason that success couldn’t be expanded to include business aviation, with the right partner.”

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