Heico Corporation Reports Record First Quarter Operating Results; Net Income Up 43% On 39% Sales Increase.

HOLLYWOOD, Fla. and MIAMI--(BUSINESS WIRE)--March 2, 1998--HEICO CORPORATION (ASE:HEI) today announced net income for the first quarter of fiscal 1998 increased by 43% to $2,282,000, or 22 cents per share, from $1,594,000, or 17 cents per share, in the first quarter of fiscal 1997. Net sales for the first quarter of fiscal 1998 were up 39% to $19,783,000 from $14,267,000 in the first quarter of fiscal 1997.

The per share amounts shown above have been calculated on a diluted basis and represent a 29% increase over the first quarter of last year. Basic net income per share (net income divided by common shares outstanding) rose 40% to 28 cents per share in the first quarter of fiscal 1998, up from 20 cents per share in the first quarter of 1997.

The Company attributed these operating results principally to increased sales and earnings of its Flight Support operations, reflecting both internal sales growth and the addition of Northwings Accessories Corp., which was acquired in September 1997.

Laurans A. Mendelson, Chairman, President and Chief Executive Officer of HEICO stated, "We are extremely pleased with the Company's first quarter operating results, reflecting sales and earnings increases primarily driven by our continuing product development efforts and accretive strategic acquisitions. Based on first quarter operating results and continuing new order flow, we expect fiscal 1998 growth well above industry averages." He added that, "The recent financial turmoil in Asia is not presently expected to have a significant impact on HEICO."

Mr. Mendelson also noted that, "Our first quarter operating results represented all-time highs for both sales and net income, excluding any non-recurring gains, for any three-month period in HEICO's history."

Certain matters discussed in this press release include forward-looking statements which involve risks and uncertainties. The Company's actual experience may differ materially from that discussed as a result of factors, including, but not limited to, lower commercial air travel, product specification costs and requirements, competition on military programs, product pricing levels and economic conditions within and outside of the aerospace, aviation and defense industries. Parties receiving this material are encouraged to review all filings of the Company with the Securities and Exchange Commission, including, but not limited to filings on Forms 10-K, Forms 10-Q and Forms 8-K. For more information concerning HEICO, please see our World Wide Web site at: http://www.stockprofile.com/hei/

HEICO Corporation is a rapidly-growing Company engaged in certain niche segments of the aerospace, aviation and defense industries through its Hollywood, FL-based HEICO Aerospace Holdings Corp. subsidiary (which is 20% owned by the Lufthansa Technik AG, subsidiary of Lufthansa German Airlines) and through its Miami, FL-based HEICO Aviation Products Corp. subsidiary. HEICO's customers include a majority of the world's airlines and airmotives as well as numerous defense contractors and military agencies worldwide, including the United States Air Force, Navy and NASA. -0-

                          HEICO CORPORATION
                         Financial Highlights

                                   For the Three Months Ended
                             01/31/98        01/31/97       % Increase
                                           (Unaudited)

Net sales                  $19,783,000     $14,267,000         39%
                           ===========     ===========         ===

Operating income           $ 3,821,000     $ 2,034,000         88%
                           ===========     ===========         ===
Net income before
  minority interest(1)     $ 2,800,000     $ 1,594,000          NM
                           ============    ===========          ==

Net income                  $ 2,282,000    $ 1,594,000         43%
                           ============    ===========         ===

Net income per share:(2)
  Basic                           $ .28          $ .20         40%
                           ============    ===========         ===

  Diluted                         $ .22          $ .17         29%
                           ============    ===========         ===
Weighted average shares:
  Basic                       8,289,377      7,930,070
                           ============    ============

  Diluted                    10,206,517       9,413,488
                           ============    ============

     (1)The minority interest represents an investment acquired by
Lufthansa Technik in a consolidated subsidiary of HEICO effective
October 31, 1997. (2)The net income per share amounts for fiscal 1997
have been restated as required to comply with Statement of Financial
Accounting Standards No. 128, "Earnings Per Share."

CONTACT: HEICO CORPORATION

Thomas S. Irwin or Victor H. Mendelson

954/987-4000