10/23/2012 10:42:00 AM
HEADLINES
B/E Aerospace Fastener Segment Results Rise
B/E Aerospace reported sales at its consumables management segment (CMS), including fasteners, rose 24% to $295.8 million in the third quarter of 2012, with operating earnings, adjusted to exclude AIT costs, up 24.4% to $59.2 million. CMS operating margin expanded 10 basis points to 20%.
Nine-month CMS revenue climbed 22.5% to $869.2 million, with adjusted operating earnings up 24.6% to $175 million. Adjusted operating margin gained 30 basis points to 20.1%.
Overall B/E Aerospace sales improved 20.6% to $766.7 million in the third quarter of 2012, which included 10.5% organic growth. Q3 operating earnings gained 24% to $138.9 million.
“Our revenue growth continues to be driven primarily by the robust new aircraft delivery cycle,” stated CEO Amin Khoury. “Approximately 61% of third quarter revenues were driven by demand for products for new-buy aircraft reflecting both robust new aircraft deliveries and weaker aftermarket demand.”
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