QUARTERLY FINANCIAL INFORMATION

12 Months Ended

Oct. 31, 2011

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information [Text Block]

14.      QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

	First		Second		Third		Fourth
	Quarter		Quarter		Quarter		Quarter
Net sales:
2011	$	174,219,000	$	184,486,000	$	197,267,000	$	208,919,000
2010	$	135,535,000	$	153,845,000	$	158,270,000	$	169,370,000
Gross profit:
2011	$	63,926,000	$	66,371,000	$	69,825,000	$	74,319,000
2010	$	50,120,000	$	53,626,000	$	57,553,000	$	61,048,000
Net income from consolidated operations:
2011	$	22,523,000	$	22,126,000	$	26,392,000	$	24,412,000
2010	$	16,030,000	$	16,908,000	$	19,526,000	$	19,891,000
Net income attributable to HEICO:
2011	$	17,074,000	$	16,830,000	$	20,402,000	$	18,514,000
2010	$	11,793,000	$	12,573,000	$	14,930,000	$	15,642,000
Net income per share attributable to HEICO:
Basic:
2011	$	.41	$	.40	$	.49	$	.44
2010	$	.29	$	.31	$	.36	$	.38
Diluted:
2011	$	.40	$	.40	$	.48	$	.44
2010	$	.28	$	.30	$	.35	$	.37

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 $797,000, 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 $2,035,000, or $.05 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 was 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 $2,394,000, or $.06 per basic and diluted share, in aggregate.

During the fourth quarter of fiscal 2010, the Company recorded impairment losses related to the write-down of certain intangible assets to their estimated fair values, which decreased net income attributable to HEICO by $713,000, or $.02 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.