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EX - 99.1 2 a7312021q3ex991 earningsrel.htm EX - 99.1 August 24 , 2021 Victor H. Mendelson ( 305 ) 374-1745 ext . 7590 Carlos L. Macau , Jr. ( 954 ) 987-4000 ext . 7570 EXHIBIT 99.1 HEICO CORPORATION REPORTS A 33 % INCREASE IN QUARTERLY OPERATING CASH FLOW AND 17 % QUARTERLY ORGANIC NET SALES GROWTH AS THE COMMERCIAL AEROSPACE INDUSTRY CONTINUES TO RECOVER 3rd Quarter of Fiscal 2021 Net Income up 42 % on Operating Income Increase of 47 % and Net Sales Increase of 22 % HOLLYWOOD , FL and MIAMI , FL -- HEICO CORPORATION ( NYSE : HEI.A ) ( NYSE : HEI ) today reported an increase in net income of 42 % to $ 76.9 million , or $ .56 per diluted share , in the third quarter of fiscal 2021 , up from $ 54.3 million , or $ .40 per diluted share , in the third quarter of fiscal 2020. Net income was $ 218.2 million , or $ 1.58 per diluted share , in the first nine months of fiscal 2021 , as compared to $ 251.7 million , or $ 1.83 per diluted share , in the first nine months of fiscal 2020 . While net income , operating income and net sales in the third quarter and first nine months of fiscal 2021 were adversely affected by the COVID - 19 global pandemic ( the " Pandemic " ) as discussed below , those impacts are declining over time . Improvement in commercial aerospace market conditions has been evidenced by four consecutive quarters of sequential growth in net sales and operating income at the Flight Support Group . Net sales increased 22 % to $ 471.7 million in the third quarter of fiscal 2021 , up from $ 386.4 million in the third quarter of fiscal 2020. Operating income increased 47 % to $ 100.8 million in the third quarter of fiscal 2021 , up from $ 68.4 million in the third quarter of fiscal 2020. The Company's consolidated operating margin increased to 21.4 % in the third quarter of fiscal 2021 , up from 17.7 % in the third quarter of fiscal 2020 . Net sales were $ 1,356.3 million in the first nine months of fiscal 2021 , as compared to $ 1,360.8 million in the first nine months of fiscal 2020. Operating income was $ 277.9 million in the first nine months of fiscal 2021 , as compared to $ 287.6 million in the first nine months of fiscal 2020. The Company's consolidated operating margin was 20.5 % in the first nine months of fiscal 2021 , as compared to 21.1 % in the first nine months of fiscal 2020 . -more