Wesco Aircraft: Fiscal 4Q Earnings Snapshot
VALENCIA, Calif. (AP) _ Wesco Aircraft Holdings Inc. (WAIR) on Thursday reported fiscal fourth-quarter net income of $7.3 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Valencia, California-based company said it had net income of 7 cents. Earnings, adjusted for one-time gains and costs, came to 18 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.
The aircraft parts distributor posted revenue of $406.8 million in the period.
For the year, the company reported net income of $32.7 million, or 33 cents per share, swinging to a profit in the period. Revenue was reported as $1.57 billion.
Wesco Aircraft shares have risen 52 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $11.26, an increase of 40 percent in the last 12 months.