QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

12 Months Ended

Oct. 31, 2014

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:
2014		$266,826		$282,232		$291,030		$292,223
2013		$216,490		$237,708		$267,133		$287,426
Gross profit:
2014		$92,117		$99,922		$103,327		$102,946
2013		$77,589		$89,448		$97,540		$106,604
Net income from consolidated operations:
2014		$32,562		$32,780		$37,352		$36,078
2013		$24,984		$29,046		$34,768		$35,763
Net income attributable to HEICO:
2014		$27,455		$28,367		$33,366		$32,105
2013		$19,958		$23,700		$28,947		$29,791
Net income per share attributable to HEICO:
Basic:
2014		$.41		$.43		$.50		$.48
2013		$.30		$.36		$.44		$.45
Diluted:
2014		$.41		$.42		$.49		$.48
2013		$.30		$.35		$.43		$.44

During the fourth quarter of fiscal 2014, the Company recorded a reduction in accrued contingent consideration related to a fiscal 2012 acquisition that was partially offset by impairment losses related to the write-down of certain intangible assets at the acquired business resulting in an increase in net income attributable to HEICO of approximately $1.7 million, or $.03 per basic and diluted share.

During the third quarter of fiscal 2014, the Company recorded a reduction in accrued contingent consideration related to a fiscal 2013 acquisition that was partially offset by impairment losses related to the write-down of certain intangible assets and lower than expected operating income at the acquired business resulting in an increase in net income attributable to HEICO of approximately $3.4 million, or $.05 per basic and diluted share.

During the first quarter of fiscal 2014, the Company recorded a reduction in accrued contingent consideration related to a fiscal 2013 acquisition that was partially offset by lower than expected operating income at the acquired business resulting in an increase in net income attributable to HEICO of approximately $2.6 million, or $.04 per basic and diluted share.

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 of the U.S. federal research and development tax credit in January 2013 to cover a two-year 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.

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.