Heico raises FY18 revenue view to up 12%-14% from 10%-12%, consensus $1.84B
The company states: "Based on our current economic visibility, we are increasing our estimated consolidated fiscal 2018 year-over-year growth in net sales to 12% - 14% and in net income to 30% - 32%, up from prior growth estimates in net sales and net income of 10% - 12%. The increased net income guidance reflects the impact of a lower federal income tax rate and the continued improvements in our consolidated operating results. Additionally, we now anticipate our consolidated operating margin to approximate 20% - 21%, up from our prior estimate of 20%, and cash flow from operations to approximate $310 million, up from our prior estimate of $290 million. Further, we continue to anticipate depreciation and amortization expense to approximate $75 million and capital expenditures to approximate $50 million. These estimates include our recent acquisition of Sensor Technology Engineering, Inc., but exclude additional acquired businesses, if any."