HOLLYWOOD and MIAMI, Fla., May 23, 2006 (PRIMEZONE) -- HEICO Corporation (NYSE:HEI.A) (NYSE:HEI) today announced that it has been awarded the "Good to Great" award in the large company category by three chambers of commerce in South Florida. The award was presented to HEICO at a Greater Miami Chamber of Commerce ceremony in Miami, FL, on Friday May 19th. The other two finalists in the large company category were Carnival Cruise Lines and the Related Group of Florida, both truly formidable nominees.
The South Florida 'Good to Great' Award was created to showcase the spirit of regionalism by linking representative Chambers of Commerce from across South Florida to salute locally based businesses that have achieved greatness in their mission by transitioning from solid performance to great performance over a four-year period while demonstrating proven leadership within management ranks and a solid workforce base. The award program was open to all For-Profit businesses -- public and private -- that are headquartered in Miami-Dade, Broward and Palm Beach counties. The award program is sponsored by the Chambers of Commerce of Greater Miami, Greater Boca Raton and Greater Fort Lauderdale.
"All of HEICO's Team Members won this award," remarked Laurans A. Mendelson, HEICO's Chairman, President and Chief Executive Officer. He added, "HEICO's outstanding team does remarkable things everyday and is the reason behind our success. We know that great plans and equipment are of little value without great people-and our people are great!
"Since 1990, HEICO's Team Members have seen us grow at a COMPOUNDED ANNUAL GROWTH RATE of 18% in sales and net income and 22% in our stock price. I thank each HEICO Team Member for making this happen," Mendelson concluded.
The Company has two classes of common stock traded on the NYSE. Both classes, the Class A Common Stock (HEI.A) and the Common Stock (HEI), are virtually identical in all economic respects. The only difference between the share classes is the voting rights. The Class A Common Stock (HEI.A) receives 1/10 vote per share and the Common Stock (HEI) receives one vote per share. The stock symbols for HEICO's two classes of common stock on most web sites are HEI.A and HEI. However, some web sites change HEICO's Class A Common Stock stock symbol (HEI.A) to HEI/A or HEIa.
HEICO Corporation is engaged primarily in certain niche segments of the aviation, defense, space and electronics industries through its Hollywood, FL-based HEICO Aerospace Holdings Corp. subsidiary and its Miami, FL-based HEICO Electronic Technologies Corp. subsidiary. HEICO's customers include a majority of the world's airlines and airmotives as well as numerous defense and space contractors and military agencies worldwide in addition to telecommunications, electronics and medical equipment manufacturers. For more information about HEICO, please visit our web site at http://www.heico.com .