[Sign Up Now] to Receive Our FREE Daily SCVTV-SCVNews Digest by E-Mail

Santa Clarita CA
Mostly cloudy
Mostly cloudy
Today in
S.C.V. History
March 20
2012 - County supervisors approve 50-year operating agreement for Placerita Canyon State Park [read]

wesco_logoValencia-based Wesco Aircraft Holdings, Inc., a leading provider of comprehensive supply chain management services to the global aerospace industry, today announced results for its fiscal fourth quarter and fiscal year end on September 30, 2013.



  • Fourth quarter revenue of $234.3 million, up 10.5%, a record for the Company, as compared to the prior year period
  • Fourth quarter Net Income of $30.0 million, with Diluted Earnings Per Share (“EPS”) of $0.31, Adjusted Net Income of $31.7 million and Adjusted Diluted EPS of $0.33
  • Fiscal year 2013 revenue was $901.6 million, up 16.2% compared to $776.2 million in the prior year
  • Fiscal year 2013 Net Income of $104.8 million, Diluted EPS of $1.09, Adjusted Net Income of $116.5 million and Adjusted Diluted EPS of $1.22

Fiscal 2013 Fourth Quarter Results

Revenue for the fiscal fourth quarter was $234.3 million, a new Company record, showing an increase of 10.5% compared to $212.2 million in the prior year period. The increase in the North America segment was 9.8% over the prior year. Wesco again demonstrated strong international growth during the quarter with revenues in the Rest of World segment increasing by 22.7% compared to the prior year. In the fourth quarter, ad hoc, JIT and LTA sales as a percentage of net sales represented 39%, 28% and 33% of sales, respectively.

Net Income for the fourth quarter of fiscal 2013 was $30.0 million, resulting in Diluted EPS of $0.31. This compared to $27.0 million or $0.28 per share in the prior year period. The increase in Net Income was due to sustained growth in commercial activity in North America, rapid growth in Rest of World commercial sales and expansion of MRO sales. Adjusted EBITDA for the fourth quarter 2013 was $53.0 million, a 15.5% increase, compared to $45.9 million in the fourth quarter of 2012. Adjusted Net Income was $31.7 million, resulting in Adjusted Diluted EPS of $0.33, compared to $27.4 million, or $0.29 per share, in the prior year period.

Randy Snyder, Wesco Aircraft’s Chairman, President and Chief Executive Officer said, “Wesco Aircraft has again proven its ability to perform and grow as shown in our 2013 fiscal year performance. We are proud of our accomplishments this year. We have won significant business that will fuel our growth going forward. Our MRO business has made great progress and is beginning to penetrate a very promising aftermarket. We have continued to focus on expanding our relationships and market share through our commitment to customer service and quality. This commitment continues to drive Wesco Aircraft’s value proposition to our customers as we partner with them to lower cost and reduce their inventory by outsourcing the supply chain management of component parts, which has real value and flows to their bottom line. Through our focus, I am confident we will continue to create value for our customers and shareholders as we move ahead into our next fiscal year.”


Full Year Fiscal 2013

Revenue for the full year fiscal 2013 was $901.6 million, an increase of 16.2% compared to $776.2 million in 2012. During fiscal 2013, ad hoc, JIT and LTA sales as a percentage of net sales represented 40%, 27% and 33%, respectively, compared to 38%, 26% and 36%, respectively, for fiscal 2012.

Net Income for fiscal 2013 was $104.8 million, resulting in Diluted EPS of $1.09. This compared to $92.2 million or Diluted EPS of $0.96 in fiscal 2012. Adjusted EBITDA in fiscal 2013 was $197.9 million as compared to $172.7 million in fiscal year 2012. Adjusted Net Income was $116.5 million, resulting in Adjusted Diluted EPS of $1.22, a 23.2% increase, compared to $95.1 million, or $0.99 per share, in the prior year.


Financial Outlook

Based on our current outlook and strong momentum, Wesco Aircraft expects full year revenues for fiscal year 2014 of between $975 million to $1.01 billion, representing a growth rate of approximately 8.1% to 12.0% over 2013 results. We believe that this above market growth will be driven by strong demand and execution in the commercial OE and MRO segments, while military revenues remain relatively flat. Diluted EPS and Adjusted Diluted EPS are expected to be in the range of $1.25 to $1.31 and $1.31 to $1.37, respectively. These EPS estimates are based on estimated 2014 fiscal year averages of 95.4 million basic shares and 97.2 million diluted shares. The effective tax rate is expected to be approximately 34% to 35%.

Comment On This Story
COMMENT POLICY: We welcome comments from individuals and businesses. All comments are moderated. Comments are subject to rejection if they are vulgar, combative, or in poor taste.
REAL NAMES ONLY: All posters must use their real individual or business name. This applies equally to Twitter account holders who use a nickname.


You can be the first one to leave a comment.

Leave a Comment

error : cannot receive stock quote information
error : cannot receive stock quote information

Latest Additions to SCVNews.com
The ARTree Studio 2 will be holding an art exhibit by artist Six, called Food Memories beginning Friday, March 23 with an opening night reception from 6:00 p.m. - 10:00 p.m.
March 23-25: Food Memories Art Exhibit by Six
Here is a list of Santa Clarita arts-related events for March 22-24:
March 22-24: Santa Clarita Arts Calendar
Shoppers can find all what they need to make that special Easter Brunch this year by visiting the Santa Clarita Farmers Market located at the College of the Canyons, parking lot 5 on Valencia Boulevard. The market will be open on Easter Day and runs from 8:30 a.m. to noon.
Santa Clarita Farmers Market Open Easter Sunday
The Triumph Foundation's Wheelchair Sports Festival will take place on Saturday, April 28 from 9:00 a.m. - 5:00 p.m. and Sunday April 29 from 9:00 a.m. - 3:00 p.m.
April 28-29: Triumph Foundation’s Wheelchair Sports Festival
With significant rain moving across the area Tuesday through Thursday this week, there is a moderate to high risk of debris flows near recent burn areas.
National Weather Service Warns Residents of Debris Flows as Storm Approaches
The Santa Clarita Valley Senior Center will hold a Cyber Security: If It's Connected, It Must be Protected Presentation on Wednesday, March 21 from 10:00 a.m. – 11:00 a.m. in Rooms A1 and A2.
March 21: Cyber Security Presentation at Senior Center
The 2018 Spring Season Opener did not disappoint as it had drama tense moments 4 yellow cards a red card, player down with injury and the Storm settled with an even 2-2 draw.
Tense SC Storm Season Opener Ends in 2-2 Tie
Want to build your own social media empire, or just improve your social media presence? Learn from the best at SCV Startup Grind featuring Rachel Hollis, tonight.
March 20: SCV Startup Grind
This past weekend, all six William S. Hart district color guards participated in the mid-season contest, hosted at Valencia High School and sponsored by the Winter Guard Association of Southern California.
Hart District Color Guards Compete at Valencia High School
(Washington, DC) - On Tuesday, Rep. Steve Knight (R-CA) and Rep. Adriano Espaillat (D-NY) introduced H.R. 5337, the Accelerated Payments for Small Businesses Act of 2018.
Knight Measure Would Speed Up Payment for Small Business Contractors
2012 - County supervisors approve 50-year operating agreement for Placerita Canyon State Park [read]
The city of Santa Clarita Tourism Marketing District Advisory Board's next Regular Meeting is set for Tuesday, March 20 at City Hall starting at 2 p.m.
March 20: Tourism Marketing District Advisory Board Meeting
The Small Business Investment Opportunity Act, sponsored by Rep. Steve Knight (R-CA) and passed by the U.S. House of Representatives in 2017, has been introduced in the U.S. Senate by a bi-partisan group of Senators.
Knight Small Business Opportunity Act Introduced in Senate
The city of Santa Clarita's Planning Commission will hold its next Regular Meeting at City Hall on Tuesday, March 20 starting at 6 p.m.
March 20: Planning Commission Regular Meeting
The Master's University freshman track and field athletes showed great promise at the Ross and Sharon Irwin Collegiate Scoring Meet at Point Loma Nazarene University on Sunday.
TMU Track and Field Freshmen Shine at Point Loma
During Sunday's ninth inning, Master's came out on the wrong side — of a 5-4 final score at McBean Park in Lincoln and a three-game sweep.
TMU Baseball Squanders Grand Slam in Series Finale
The TMU Mustangs baseball team (17-12, 10-9 in Golden State Athletic Conference) was swept 9-1 and 5-3 by NAIA No. 7 William Jessup on the road Saturday.
Mustangs Baseball Drops Two to Jessup
"They'll be back," TMU men's basketball team's lone senior Lawrence Russell said after a 106-104 loss to Peru State College in the first round of the NAIA Division 1 National Championship tournament Wednesday.
TMU Men’s Basketball Team Eyes Another Run
Chandra Subramaniam spent his first week as the new dean of California State University, Northridge’s David Nazarian College of Business and Economics learning about the job and the people he’ll be working with.
Chandra Subramaniam is New Dean of CSUN’s Nazarian Business College
Santa Clarita Valley students, teachers, families and supporters will gather for a "March for Our Lives" rally at Marketplace Park in Valencia on Saturday, March 24, starting at 10 a.m., to demand an end to gun violence in schools.
March 24: SCV ‘March for Our Lives’ Rally to ‘Demand Safe Schools’
The Los Angeles County Sheriff's Department is expanding its S.H.A.R.E. Program in an effort to reduce reports of hate crimes and hate incidents throughout the county.
LASD Expands ‘S.H.A.R.E.’ Anti-Hate Program
Los Angeles County Interim Health Officer Dr. Jeffrey Gunzenhauser has extended a county beach use advisory through Tuesday night at 10 due to runoff from the recent rainfall.
Beach Use Advisory Extended Through Tuesday
'NCIS," 'Criminal Minds' and three feature films are among the productions filming in the Santa Clarita Valley March 19-25, 2018.
‘NCIS,’ ‘Criminal Minds,’ 3 Features Now Filming in Santa Clarita
The Los Angeles County Board of Supervisors invites you to join us in celebrating Public Defense Day today to honor the 55th anniversary of the landmark U.S. Supreme Court decision Gideon v. Wainwright.
County Observes ‘Public Defense Day,’ Seeks New Top PD
As Metro begins to put together its transportation budget for the 2019 fiscal year, effective July 1, 2018 through June 30, 2019, the agency seeks input from the public to help set priorities.
Metro Seeks Public Input on FY-19 Budget
The United States Senate has passed H.R. 3210, the Securely Expediting Clearances Through Reporting Transparency or SECRET Act introduced by Representative Steve Knight (R-CA), by unanimous consent.
Knight’s Security Clearance Act Passes Unanimously in Senate
The SCV Sheriff’s Station and city of Santa Clarita are joining other public safety agencies across the country this week to promote the “#9pmRoutine,” a social media campaign to prevent unnecessary thefts from vehicles as well as homes.
City, Sheriff Join ‘#9pmRoutine’ Campaign to Keep Valuables Safe
State Sen. Scott Wilk (D-Palmdale) and Assemblyman Dante Acosta (R-Santa Clarita) will co-host a women's safety and self-defense workshop at The Centre in Centre Pointe on Saturday, April 7 from 9:30 a.m. to 11:30 a.m.
April 7: Wilk, Acosta Host Women’s Safety, Self-Defense Workshop
Two crimes were listed on the SCV Sheriff's Station's Public Safety and Crime Information Report for Stevenson Ranch (Zone 3) for the period from February 26 to March 11, 2018.
Crime Blotter: Burglary in Stevenson Ranch
Deputies from the Santa Clarita Valley Sheriff's Station wrapped up a pair of related cases Saturday night with the arrest of an alleged motorhome thief in Saugus.
SCV Deputies Arrest Alleged Motorhome Bandit in Saugus
1875, 1:35PM - Outlaw Tiburcio Vasquez hanged in San Jose [story]
1919 - Swall Hotel in Newhall burns down (corner Main & Market) [story]
1927 - Newhall telephone exchange, est. 1900, now serves 100 phones [story]
The 2018 SXSW Film Festival, which runs from March 9 to 18, announced its Jury and Special Award winners on Tuesday with CalArts alumni taking home some of the top prizes.
CalArtians Earn Juried Prizes at 2018 SXSW Film Festival
Santa Clarita Valley Boys & Girls Club "Youth of the Year" Lluvia Partida was among the young people vying for regional "Youth of the Year" honors at the annual County Alliance award ceremony Tuesday night.
County Boys and Girls Club Alliance Names 2 ‘Youth of the Year’ Honorees
Newhall School District administrators will host an information/enrollment meeting for families that may be affected by the possible closure of the Einstein Academy at Stevenson Ranch Elementary School on Wednesday, March 21, starting at 6:30 p.m.
March 21: Newhall School District Info Session for Einstein Families