8/6/2014 12:19:00 PM
NEWS BRIEFS
Wesco Aircraft Reports Moderate Organic Growth
Wesco Aircraft reported revenue, including fasteners, in the third quarter of fiscal 2014 increased 72% — driven mainly by the February acquisition of supply chain management firm Haas Group. Organic sales grew 6% during the period, while adjusted net income rose 12% to $33 million.
“Our North American and Rest of World segments have each experienced steady growth,” stated CEO Randy Snyder.
“With strong OEM build rates and steady progress in expanding our MRO business, we believe we will finish our the year on a positive note.”
Nine-month revenue increased 42% to $947.7 million, with adjusted net income of $90.9 million.
Southern California-based Wesco Aircraft manages aerospace supply chains with more than 525,000 parts and components, include fasteners, fittings, nuts, bolts, bushings, clamps, collars, pins, screws and washers.
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