11/14/2012 12:53:00 AM
NEWS BRIEFS
Wesco Aircraft Sees Boost From Interfast
Interfast parent company Wesco Aircraft reported revenue for the fiscal fourth quarter of 2012 rose 17% to $212.2 million. The increase in the North America segment was 15.2% — mainly driven by the $130 million Interfast acquisition completed in July.
“The integration of our recent acquisition, Interfast, is ahead of expectations and we are already gaining some of the anticipated benefits, including expanded customer relationships and more effective purchasing,” stated Wesco CEO Randy Snyder.
International growth for Wesco was stronger, with quarterly segment revenue in its Rest of World segment increasing 44.3%.
Fourth quarter net income gained 33% to $27 million.
Full-year fiscal 2012 revenue increased 9.2% to $776.2 million, while net income grew 22% to $92.2 million.
Based on the strong performance during fiscal year 2012, Wesco expects full year revenues for fiscal year 2013 of between $865 – $890 million, representing a growth rate of approximately 11% – 15%. ©2012 GlobalFastenerNews.com
Related Stories:
• NORMA Group Opens India Facility
Related Links:
Share: