Aerospace distributor Wesco Aircraft Holdings, Inc.(NYSE: WAIR), Valencia, CA, reported sales for the second quarter of $385.6 million, up 17.8 percent from the same period a year ago. Second-quarter profit fell 5.2 percent to $23 million.
Dave Castagnola, Wesco Aircraft’s recently appointed president and CEO, said, “While this is only my first week at Wesco, I know the entire Wesco team agrees that our results so far this year have not been satisfactory. We need to drive organic growth, operate with greater efficiency and deliver better results.”
Sales for the first six months were $759.3 million, up 37.5 percent from the same period a year ago. Profit for the first six months was $42.8 million, down 12.1 percent.