Aerospace distributor Wesco Aircraft Holdings Inc. (NYSE: WAIR), Valencia, CA, reported sales for the third quarter ended June 30 of $368.7 million, a year-over-year decrease of 7 percent. Organic sales fell 4 percent. Profit decreased 50 percent to $16.5 million.
“The decline in sales is almost entirely due to the large commercial contract we had previously identified and the impact of currency," said Dave Castagnola, president & CEO.
Sales for the first nine months of fiscal 2015 were $1.1 billion, an increase of 19 percent compared to the prior year period, driven primarily by the Haas acquisition. Profit decreased 23.5 percent to $59.3 million.