Fasteners Profitable for B/E Aerospace

Jason Sandefur

Fasteners sales remained flat for B/E Aerospace during the second quarter of 2003, growing less than one percent to $25.8 million. However, Q2 operating profit from fasteners outperformed other segments, posting a $100,000 gain compared with a $6.4 million loss in commercial aircraft products and a $3.7 million loss in business jet products. Fasteners accounted for 17% of Q2 sales.
Overall, the company reported a Q2 net loss of $14.1 million on flat sales of $151.8 million. CEO Robert Khoury said the �challenging� quarter saw the closure of B/E Aerospace�s plant in Dafen, Wales, the fifth facility to be shut down by the company in the last two years.
For the first half of 2003, B/E Aerospace posted a $24.9 million loss, compared with a $9.1 million loss during the first half of 2002. First half sales rose 3% to $306.5 million. Web: beaerospace.com �2003 FastenerNews.com