Wesco Aircraft Holdings Inc. fell short of Wall Street expectations on adjusted earnings but topped on revenue in the fiscal fourth quarter.
The Valencia aircraft parts supplier reported on Thursday adjusted net income of $18.2 million (18 cents a share) on revenue of nearly $407 million for the quarter ending Sept. 30. That compares with adjusted net income of $8.4 million (8 cents) on revenue of $362 million in the same period a year earlier.
Analysts on average expected earnings of 21 cents on revenue of $378 million, according to Thomson Financial Network.
“Net sales in the fourth quarter increased at a robust pace, reflecting continued positive aerospace market conditions and greater demand for supply chain services,” Chief Executive Todd Renehan said in a statement.
Shares of Wesco (WAIR) closed up 21 cents, or nearly 2 percent, to $11.26 on the New York Stock Exchange.