7/28/2009
NEWS BRIEFS
B/E Aerospace Fastener Sales Decline
B/E Aerospace’s aerospace fastener business, B/E Aerospace Consumables Management, reported sales dropped 30% to $196.6 million on a proforma basis. Q2 segment operating revenue 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 percent 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.
B/E Aerospace Consumables Management is one of the largest distributor of aerospace fasteners and consumables in the world, stocking more than 275,000 parts at 40 locations. ©2009 GlobalFastenerNews.com
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