Wesco Aircraft reported sales, including fasteners, increased 8.9% to $395.3 million in its fiscal 2019 first quarter, which ended December 31. Net income improved to $6.3 million, while EBITDA totaled $37.4 million.

“Long-term contracts were higher, primarily due to higher chemical pass-through revenue and related service fees, while hardware volume increased at a lesser pace,” the company stated.

Gross profit rose 4.1% to $98.3 million due to “higher sales volume, partially offset by a decline in gross margin.”

“Our Americas business, which represented 81 percent of total net sales, performed very well in the first quarter, with strong sales growth and improved operating margin,” stated CEO Todd Renehan. “This was partially offset by one-time costs of $8 million supporting Wesco 2020 execution and weaker results in our EMEA business.”

Wesco Aircraft’s Americas segment reported sales grew 11%. Operating income in the Americas increased 15 percent, reflecting higher gross profit, partially offset by an increase in expenses to support growth and Wesco 2020 execution.

EMEA segment sales declined 4%, while operating income decreased 52%. Web: WescoAir.com