8/7/2015 2:05:00 PM
NEWS BRIEFS
Wesco Aircraft Reports Sales Decline
Aerospace fastener supplier Wesco Aircraft reported sales for the third quarter of fiscal 2015 fell 7% to $368.7 million. Organic sales fell 4%, while EBITDA declined 32% to $42.6 million. Net income in the fiscal 2015 third quarter was $16.5 million, or $0.17 per diluted share.
“The decline in sales is almost entirely due to the large commercial contract we had previously identified and the impact of currency,” stated CEO Dave Castagnola.
Sales in the first nine months of fiscal 2015 increased 19% to $1.1 billion, driven primarily by the Haas acquisition. Organic sales dropped 7%, while EBITDA declined 9.8% to $146.2 million. Net income was $59.3 million, or $0.61 per diluted share.
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