Wesco Aircraft Holdings Inc. (WAIR: Quote) Tuesday reported a decline in profit for the fourth quarter.
The Valencia, California-based company’s fourth-quarter net income was $18.4 million or $0.19 per share, compared to $23.1 million or $0.24 per share in the comparable quarter last year. Following the results the company reaffirmed its outlook for the full year 2013.
Adjusted income for the quarter rose to $24.1 million or $0.25 per share from $22.4 million or $0.24 per share in the prior-year quarter. On average, eight analysts polled by Thomson Reuters expected the company to earn $0.27 per share for the quarter. Analysts’ estimates typically exclude special items.
Total revenues for the quarter grew 9.7 percent to $211.16 million from $192.6 million in the prior-year quarter, while six analysts had a consensus revenue estimate of $216.10 million for the quarter.
Looking ahead to fiscal 2013, the company reaffirmed its outlook and continues to expect earnings in the range of $1.08 to $1.12 per share and adjusted earnings to range between $1.14 and $1.19 per share. Revenues for the year are anticipated in the range of $865 million to $890 million. Analysts currently expect the company to earn $1.16 per share for the year, with revenues of $887.27 million.
To receive FREE breaking news email alerts for Wesco Aircraft Holdings, Inc and others in your portfolio
by RTT Staff Writer
For comments and feedback: editorial@rttnews.comBusiness News