Category: Press release

Partners with the owners and managers of Ironwood Electronics

Eagan, MN and Miami, FL – HEICO Corporation (NYSE: HEI.A and HEI.A) today announced that its Electronic Technologies Group acquired approximately 80% of the capital stock of technology component company Ironwood Electronics, Inc. (“Ironwood”) for cash paid at closing, plus additional cash consideration to be paid if Ironwood meets certain earnings targets. The balance of Ironwood’s shares will continue to be owned by Ironwood’s Chief Executive Officer, David Struyk, and other key managers. Further financial information was not disclosed. 

3rd Quarter of Fiscal 2022 Operating Income Increased 28% on a Net Sales Increase of 21%

HOLLYWOOD, FL and MIAMI, FL — HEICO CORPORATION (NYSE: HEI.A) (NYSE: HEI) today reported net sales increased 21% to a record $569.5 million in the third quarter of fiscal 2022, up from $471.7 million in the third quarter of fiscal 2021. Operating income increased 28% to a record $128.7 million in the third quarter of fiscal 2022, up from $100.8 million in the third quarter of fiscal 2021. The Company’s consolidated operating margin improved to 22.6% in the third quarter of fiscal 2022, up from 21.4% in the third quarter of fiscal 2021. 

HOLLYWOOD, FL and MIAMI, FL – On August 29, 2022, after the NYSE closing, HEICO Corporation (NYSE: HEI) (NYSE: HEI.A) will release its financial results for the third quarter ended July 31, 2022. The earnings release will be available through the Internet on the Company’s website at https://www.heico.com

Electronic Technologies Group Acquires Sensor Systems

Chatsworth, CA and Miami, FL – HEICO Corporation (NYSE HEI and HEI.A) today announced that its Electronic Technologies Group acquired all of the stock of Sensor Systems, Inc. (“Sensor”) for a combination of cash and approximately 575,000 HEICO Class A Common Shares. Further financial details were not disclosed.

Marks HEICO’s fifth announced acquisition in fiscal 2022

Pinellas Park, FL and Miami, FL – HEICO Corporation (NYSE: HEI.A and HEI) today announced that its dB Control subsidiary acquired 100% of the stock of Charter Engineering, Inc. (“Charter”) for cash at closing. Further financial details were not disclosed. dB Control is part of HEICO’s Electronic Technologies Group.

Electronic Technologies Group has agreed to acquire leading electronic component maker Exxelia

MIAMI, FL and PARIS, FRANCE – HEICO Corporation (NYSE:HEI)(NYSE:HEI.A) today announced that its Electronic Technologies Group (“ETG”) entered into a put option agreement to acquire Exxelia International (“Exxelia”) from an affiliate of IK Partners (“IK”) and additional sellers for €453 million in cash to be paid at closing plus the assumption of approximately €14 million of liabilities. Exxelia’s management and team members are expected to continue to own a minority interest of around 5% of the business. HEICO anticipates that, upon completion of required works council consultations in France, the parties will enter into a definitive purchase agreement with closing of the acquisition by the end of its first quarter of fiscal year 2023

Cleveland, OH and Miami, FL — HEICO Corporation (NYSE: HEI.A and HEI) today announced its Flight Support Group has acquired 96% of Accurate Metal Machining, Inc. (“Accurate”) for cash at closing, plus potential additional cash consideration to be paid if certain post-closing earnings levels are attained. Additional financial details were not disclosed. 

HOLLYWOOD, FL. & MIAMI, FL. — HEICO Corporation (NYSE:HEI.A) (NYSE:HEI) announced today that its Board of Directors approved a semi-annual cash dividend of $.09 per share, payable on both classes of its common stock. The cash dividend is payable on July 15, 2022 to shareholders of record as of July 1, 2022. This cash dividend represents HEICO’s 88th consecutive semi-annual cash dividend since 1979.

2nd Quarter of Fiscal 2022 Net Income up 20% on Record Operating Income, which Increased 27%, and Net Sales, which Increased 15%

HOLLYWOOD, FL and MIAMI, FL — HEICO CORPORATION (NYSE: HEI.A) (NYSE: HEI) today reported an increase in net income of 20% to $85.0 million, or $.62 per diluted share, in the second quarter of fiscal 2022, up from $70.7 million, or $.51 per diluted share, in the second quarter of fiscal 2021. Net income increased 22% to $171.9 million, or $1.25 per diluted share, in the first six months of fiscal 2022, up from $141.3 million, or $1.03 per diluted share, in the first six months of fiscal 2021.

Hollywood, FL and Miami, FL – On May 23, 2022, after the NYSE closing, HEICO Corporation (NYSE: HEI.A) (NYSE: HEI) will release its financial results for the second quarter ended April 30, 2022. The earnings release will be available through the Internet on the Company’s website at https://www.heico.com.