B/E Aerospace Raising Funds for Fastener Acquisitions

B/E Fastener Earnings Up
B/E Aerospace’s fastener business, Consumables Management, improved its earnings during the second quarter of 2010, boosted by “significant margin expansion.”

Operating earnings gained 6.7% to $38.2 million despite a 1.8% drop in sales during Q2. Sequentially, second quarter 2010 CMS revenues increased 3.8% as compared with the previous quarter.
 

Six-month CMS revenues dropped 13% to $379.2 million, but bookings in the first half of 2010 increased more than 10% sequentially. First half operating earnings declined 9.9%, though earnings increased 10.6% on a 4.7% increase in revenues sequentially.
 

“Based upon our expectation of a continued expansion in orders and backlog and a continued recovery in our commercial aircraft segment spares and consumables businesses during 2010 as well as higher levels of wide-body aircraft deliveries in 2011, we expect a significant increase in revenues, earnings and cash flows beginning in 2011,” stated CEO Amin Khoury in July. ©2010 GlobalFastenerNews.com