QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

12 Months Ended

Oct. 31, 2019

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:
2019		$466,146		$515,648		$532,324		$541,529
2018		$404,410		$430,602		$465,825		$476,884
Gross profit:
2019		$182,237		$209,387		$212,831		$209,385
2018		$154,791		$167,857		$181,609		$186,458
Net income from consolidated operations:
2019		$88,026		$90,083		$89,059		$92,573
2018		$71,695		$66,011		$73,899		$74,081
Net income attributable to HEICO:
2019		$79,332		$81,782		$81,098		$85,684
2018		$65,152		$59,618		$67,086		$67,377
Net income per share attributable to HEICO:
Basic:
2019		$.60		$.61		$.61		$.64
2018		$.49		$.45		$.51		$.51
Diluted:
2019		$.58		$.60		$.59		$.62
2018		$.48		$.44		$.49		$.49

During the first quarter of fiscal 2019, the Company recognized a $16.6 million discrete tax benefit from stock option exercises, which, net of noncontrolling interests, increased net income attributable to HEICO by $15.1 million, or $.11 per basic and diluted share. During the first quarter of fiscal 2018, the Company recognized a net benefit from stock option exercises that increased net income attributable to HEICO by $2.1 million, or $.02 per basic and diluted share.

During the first quarter of fiscal 2018, the U.S. government enacted significant changes to existing tax law resulting in the Company recording a provisional discrete tax benefit from remeasuring its U.S. federal net deferred tax liabilities that was partially offset by a provisional discrete tax expense related to a one-time transition tax on the unremitted earnings of the Company's foreign subsidiaries. The net impact of these amounts increased net income attributable to HEICO by $11.9 million, or $.09 per basic and dilute share. See Note 7, Income Taxes, for additional information regarding changes to existing tax law.

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.