4/25/2012 12:55:00 AM
HEADLINES
B/E Aerospace Fastener Segment Sees Strong Results
B/E Aerospace reported revenue at its Consumables management segment (CMS) — primarily fasteners — climbed 24.3% to $286.8 million in the opening quarter of 2012, with segment operating earnings gaining 16.1% to $51.8 million.
CMS pro forma revenues increased 9.5%, pro forma operating earnings, adjusted to exclude AIT costs, were $58.7 million and pro forma adjusted operating margin was 19.4%.
Overall B/E revenue gained 24.5% to $747.3 million in Q1, while operating earnings increased 29.7% to $129.8 million and its operating margin of 17.4% expanded by 70 basis points.
“Operating earnings growth and operating margin expansion were driven by the higher sales volume, improved revenue mix and ongoing operational efficiency initiatives,” the company stated.
“The substantial margin expansion was driven by our commercial aircraft and business jet segments which more than offset the margin drag from the consumables management segment acquisitions,” stated CEO Amin Khoury.
“In the coming months B/E forecasts “continued growth in consumables demand driven primarily by the expected continuing growth in global passenger traffic and capacity.” ©2012 GlobalFastenerNews.com
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