8/4/2009
HEADLINES
STOCKS: B/E Aerospace Fastener Sales Decline

B/E Aerospace’s aerospace fastener business, B/E Aerospace Consumables Management, reported sales slid 30% to $196.6 million on a proforma basis. Q2 segment operating income fell 33% to $35.8 million.

“Airlines, MRO’s and aerospace manufacturers have implemented stringent cash conservation measures, including retrofit program pushouts, aircraft refurbishment deferrals and inventory destocking, all of which caused the 30% decline in B/E Aerospace revenues during the quarter,” stated CEO Amin Khoury.

Overall sales dipped 30% to $474.8 million during the quarter, while net earnings slipped 35% to $34.7 million.

Consumables Management sales during the first six months of 2009 dropped 20% to $436 million, while operating income decreased 20% to $83.2 million. ©2009 GlobalFastenerNews.com

Related Links:

• BE Aeropsace