Santa Clarita-based aerospace parts supplier Wesco Aircraft Holdings posted record revenues of $192.6 million Thursday for the first quarter of 2012, up 11 percent from $173.5 million one year earlier.
Pretax earnings for the quarter were $47.4 million, up 8 percent on the year, while per-share pretax earnings rose to 26 cents from 25 cents in the first quarter of 2011.
After taxes and expenses, net earnings totaled $23.2 million (24 cents per diluted share), up from $21.7 million (23 cents) a year earlier.
International trade drove the revenue growth as foreign sales rose 29.7 percent year-over year.
“Our ability to achieve double digit organic revenue growth in this environment is a reflection of the people, processes and systems we have developed and our commitment to delivering quality parts to our customers on time,” CEO Randy Snyder said in a statement. “We are very pleased with our first quarter results and believe we are well positioned for continued success throughout the remainder of the year.”
Wesco reiterated its full-year guidance of 98 cents to $1.02 per diluted share for all of 2012 on revenues of $760 million to $785 million, reflecting an anticipated growth rate of 7 to 10 percent.
Wesco’s services range from traditional distribution to the management of supplier relationships, quality assurance, kitting, just-in-time delivery and point-of-use inventory management for aerospace companies and carries 475,000 different items in stock including hardware, bearings, tools, electronic components and machined parts. Headquartered in the Valencia Industrial Center, Wesco has more than 1,000 employees across 30 locations in 10 countries.