5/16/2011 4:43:00 PM
HEADLINES
B/E AEROSPACE
B/E Aerospace reported sales in its Consumables Management segment, including fasteners, climbed 24% to $230.8 million during the first quarter of 2011, while operating earnings rose 21.2% to $44.6 million.
Segment operating margin of 19.3% was 50 basis points lower than the prior year due to the margin drag from the acquired Satair A/S’s aerospace fastener distribution business.
Order rates for consumables continue double-digit growth.
Full-year Consumables revenues declined 3.2% to $772.9
million, “primarily as a result of lower revenues in the first quarter of 2010 as compared with the first quarter of 2009.”
Segment adjusted operating earnings and adjusted operating margin of $157.6 million and 20.4%, respectively, increased by $6.6 million and 150 basis points, respectively.
Full year 2010 Consumables operating earnings were $153.2 million, up 1.5% as compared with 2009.
Consumables Management, provides logistics services OEMs, airlines, repair shops, flight service centers and distributors, as well as distributing aerospace fasteners.
Consumables Management operates a 355,760 sq ft distribution facility in Miami; a 67,000 sq ft facility in Stratford, CT; a 36,000 sq ft facility in Paramus, NJ; and a 49,000 sq ft facility in Wichita, KS.
Corporate Office: 1400 Corporate Center Way, Wellington, FL 33414. Tel: 561 791-5000 Web: beaerospace.com
CEO: Amin Khoury
Key Fastener Executive: Robert Marchetti, GM of Consumables Management
Employees: 6,650
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