QUARTERLY FINANCIAL INFORMATION

12 Months Ended

Oct. 31, 2013

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:
2013		$216,490		$237,708		$267,133		$287,426
2012		$212,655		$216,314		$225,969		$242,409
Gross profit:
2013		$77,589		$89,448		$97,540		$106,604
2012		$78,248		$75,198		$84,252		$89,738
Net income from consolidated operations:
2013		$24,984		$29,046		$34,768		$35,763
2012		$24,466		$24,224		$28,672		$29,313
Net income attributable to HEICO:
2013		$19,958		$23,700		$28,947		$29,791
2012		$19,185		$19,043		$23,128		$23,791
Net income per share attributable to HEICO:
Basic:
2013		$.30		$.36		$.44		$.45
2012		$.29		$.29		$.35		$.36
Diluted:
2013		$.30		$.35		$.43		$.44
2012		$.29		$.29		$.35		$.36

During the third quarter of fiscal 2013, the Company filed its fiscal 2012 U.S. federal and state tax returns.  As a result, the Company recognized a benefit, which increased net income attributable to HEICO by approximately $.8 million, or $.01 per basic and diluted share, net of expenses, from higher research and development tax credits.

During the first quarter of fiscal 2013, the Company recognized an income tax credit for qualified research and development activities for the last ten months of fiscal 2012 upon the retroactive extension in January 2013 of Section 41 of the Internal Revenue Code, “Credit for Increasing Research Activities,” to cover the period from January 1, 2012 to December 31, 2013. The tax credit, net of expenses, increased net income attributable to HEICO by $1.0 million, or $.01 per basic and diluted share.

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 $.01 per basic and diluted share, net of expenses, principally from higher research and development tax credits.

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.