QUARTERLY FINANCIAL INFORMATION

12 Months Ended

Oct. 31, 2012

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information [Text Block]

QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

(in thousands, except per share data)	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Net sales:
2012		$212,655		$216,314		$225,969		$242,409
2011		$174,219		$184,486		$197,267		$208,919
Gross profit:
2012		$78,248		$75,198		$84,252		$89,738
2011		$63,926		$66,371		$69,825		$74,319
Net income from consolidated operations:
2012		$24,466		$24,224		$28,672		$29,313
2011		$22,523		$22,126		$26,392		$24,412
Net income attributable to HEICO:
2012		$19,185		$19,043		$23,128		$23,791
2011		$17,074		$16,830		$20,402		$18,514
Net income per share attributable to HEICO:
Basic:
2012		$.36		$.36		$.44		$.45
2011		$.33		$.32		$.39		$.35
Diluted:
2012		$.36		$.36		$.43		$.45
2011		$.32		$.32		$.38		$.35

During the third quarter of fiscal 2012, the Company filed its fiscal 2011 U.S. federal and state tax returns. As a result, the Company recognized an aggregate benefit, which increased net income attributable to HEICO by approximately $.9 million, or $.02 per basic and diluted share, net of expenses, principally from higher research and development tax credits.

In the first quarter of fiscal 2011, the Company recognized an income tax credit for qualified research and development activities for the last ten months of fiscal 2010 upon the retroactive extension in December 2010 of Section 41 of the Internal Revenue Code, “Credit for Increasing Research Activities,” to cover the period from January 1, 2010 to December 31, 2011.  The tax credit, net of expenses, increased net income attributable to HEICO by $.8 million, or $.02 per basic and diluted share.

During the third quarter of fiscal 2011, the Company filed its fiscal 2010 U.S. federal and state tax returns and amended certain prior year state tax returns.  As a result, the Company recognized an aggregate benefit, which increased net income attributable to HEICO by $2.0 million, or $.04 per basic and diluted share, net of expenses, principally from state income apportionment updates and higher research and development tax credits.

During the fourth quarter of fiscal 2011, the Company recorded impairment losses related to the write-down of certain intangible assets to their estimated fair values that were partially offset by a reduction in the value of contingent consideration related to a prior year acquisition, which decreased net income attributable to HEICO by $2.4 million, or $.05 per basic share and $.04 per diluted share, in aggregate.

Due to changes in the average number of common shares outstanding, net income per share attributable to HEICO for the full fiscal year may not equal the sum of the four individual quarters.