B/E Aerospace Sales Up

Jason Sandefur

B/E Aerospace reported 2004 distribution sales, including fasteners, climbed 39.1% to $144.2 million, while segment operating earnings jumped 53% to $26 million.
Overall sales gained 17.5% to $733.5 million, boosted by increased sales and earnings at the distribution segment, as well as cost reductions from the company’s consolidation program completed in 2003. B/E Aerospace posted a loss of $22 million for the year, compared with a $53.5 million loss in 2003. The loss in 2004 included an $8.8 million charge for the early retirement of long-term debt.
For the fourth quarter of 2004, distribution revenue rose 42% to $36.7 million, and operating earnings improved 49% to $6.4 million. Revenue growth in the distribution segment was driven by “a broad-based increase in aftermarket demand for aerospace fasteners,” the company stated.
Overall Q4 sales grew 16% to $189.6 million, while operating earnings soared to $16.3 million, compared with earnings of $1.2 million during the fourth quarter of 2003. Web: beaerospace.com �2005 FastenerNews.com