Wesco Aircraft Announces Unaudited Consolidated Earnings Results for Second Quarter and Six Months Ended March 31, 2015
May 7 15
Wesco Aircraft announced unaudited consolidated earnings results for second quarter and six months ended March 31, 2015. For the quarter, the company reported net sales of $385,559,000, income from operations of $44,317,000, income before provision for income taxes of $35,762,000, net income of $23,046,000 or $0.24 per diluted share compared to the net sales of $327,360,000, income from operations of $42,522,000, income before provision for income taxes of $36,709,000, net income of $24,312,000 or $0.25 per diluted share for the same quarter a year ago. EBITDA was $51,788,000 against $46,771,000 a year ago. Adjusted EBITDA was $54,752,000 against $54,437,000 a year ago. Adjusted Net Income was $28,222,000 or $0.29 per diluted share against $32,008,000 or $0.33 per diluted share a year ago. Free cash flow was $36.5 million, compared to a negative $9.0 million in the fiscal 2014 second quarter.
For the six months, the company reported net sales of $759,255,000, income from operations of $83,608,000, income before provision for income taxes of $65,928,000, net income of $42,776,000 or $0.44 per diluted share, net cash provided by operating activities of $49,472,000, purchases of property and equipment of $2,912,000 compared to net sales of $552,082,000, operating earnings of $83,135,000, income before provision for income taxes of $73,854,000, income from operations of $48,682,000 or $0.5 per diluted share, net cash used in operating activities of $33,691,000, purchases of property and equipment of $3,173,000 for the same period a year ago. EBITDA was $97,909,000 against $91,189,000 a year ago. Adjusted EBITDA was $103,567,000 against $98,968,000 a year ago. Adjusted Net Income was $52,850,000 or $0.54 per diluted share against $57,906,000 or $0.60 per diluted share a year ago.
Wesco Aircraft Holdings, Inc. Announces Management and Executive Changes, Effective May 4, 2015
Apr 24 15
The board of directors of Wesco Aircraft Holdings Inc. named Richard J Weller as executive vice president (EVP) and chief financial officer (CFO), succeeding the retired Gregory A Hannfrom as of 31 March 2015, from 4 May 2015. Also, the company mentioned that the acting CFO K Lynn Mackison will continue as VP and global controller, a position she has held with the company since January 2015. Most recently with Ingersoll-Rand plc as VP and global controller, Weller also served as VP of finance and CFO of the Securities Technologies sector (now Allegion plc) at Ingersoll-Rand. Before this, he held senior-level financial and general management positions at a network of aircraft, defence and intelligence and industrial and finance businesses, Textron Inc. where his roles included having full profit and loss responsibility for its North America Fastening Systems operations, as well as global oversight of its finance, information technology, strategy, pricing, business development and operations.