B/E Aerospace Fastener Sales Strong

Jason Sandefur

Distribution sales, including fasteners, at B/E Aerospace rose 20.6% to $173.9 million during 2005, “driven by a broad-based increase in aftermarket demand for aerospace fasteners and continued market share gains.” A 10% increase in operational productivity helped boost operating income 34.7% to $34.9 million for the year.
B/E saw “strong revenue growth” for its distribution segment during the fourth quarter of 2005, with sales increasing 16.9% to $42.9 million. Q4 distribution operating earnings jumped 31.3% to $8.4 million, despite lost sales and overtime and expediting costs due to hurricane activity.
Overall sales during 2005 climbed 15.5% on organic growth to $844.1 million, while annual operating earnings soared 45.3% to $93.6 million. Net income for 2005 grew to $84.6 million compared with a $22 million loss in 2004.
Overall sales in Q4 improved 18% to $223 million, with net earnings growing to $62.1 million compared with a $9.3 million loss in the fourth quarter of 2004. Web: beaerospace.com �2006 FastenerNews.com