7/25/2011 11:31:00 AM
NEWS BRIEFS
Fasteners Boost B/E Aerospace Results in 2011
B/E Aerospace reported revenue at its Consumables Management segment, which distributes aerospace fasteners, rose 24.3% to $239.9 million in the second quarter of 2011 — including 13% organic sales growth. An operating margin of 20.1% represents an increase of 30 basis points “in spite of the margin drag from recent acquisitions.” Q2 organic operating margin expanded by 140 basis points to 21.2%.
Consumables Management results included the late 2010 acquisition of Satair A/S’s aerospace fastener distribution business, for which B/E paid $162 million.
Six-month Consumables Management revenue increased 24.1% to $470.7 million increased 24.1%, while operating earnings gained 23.9% to $92.9 million.
Operating margin of 19.7% decreased 10 basis points. Organic revenue growth improved 14.1%, while organic operating margin expanded by 40 basis points to 20.2%.
Consolidated six-month revenue rose 27.6% to $1.21 billion, while operating earnings jumped 37% to $206.8 million and net earnings soared 45% to $105.1 million. ©2011 GlobalFastenerNews.com
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