4/28/2009
NEWS BRIEFS
B/E Fastener Segment Sales Top $239m
B/E Aerospace reported sales at its consumables management segment, including fasteners, totaled $239.4 million during the first quarter of 2009, while segment operating earnings topped $47.4 million.
B/E’s consumables management segment was formed after the acquisition of Honeywell’s aerospace fastener distribution business, Honeywell Consumable Solutions, for $1.05 billion during the third quarter of 2008. The acquisition transformed B/E Aerospace into one of the largest distributors of aerospace fasteners in the world.
Overall Q1 revenue rose 10.7% to $523.7 million, boosted by the HCS acquisition. Operating earnings rose 4.3% to $80.7 million, while net earnings topped $37.9 million.
B/E’s performance was tempered by an 18.9% decline in commercial aircraft segment sales and a 19.7% drop in business jet segment revenue.
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