KLX – the former Consumables Management segment of B/E Aerospace – reported Aerospace Solutions Group (ASG) business revenue, primarily from fasteners, increased 4.9% to $1.4 billion in fiscal 2016, which ended January 31.

ASG gains were driven by the contribution of Herndon’s military aftermarket business and increased aircraft maintenance activity. Segment operating earnings improved 8.8% to $230.2 million.

Overall KLX revenue declined 2.3% to $1.5 billion during the year, with consolidated operating earnings rising 34.6% to $139.2 million.

Fourth-quarter ASG segment revenue gained 10.6% to $338.4 million.

“Revenues from our commercial aerospace manufacturing customers increased modestly reflecting market share gains, while consolidated ASG aftermarket revenues were up approximately 18%, primarily due to the contribution of the military aftermarket portion of revenues from the recent Herndon acquisition, and increased aircraft maintenance activity,” the company stated.

Q4 ASG operating earnings increased to $55.3 million and operating margin improved 200 basis points to 16.3%.

Consolidated Q4 revenues improved 6.6% to $382 million, while operating earnings jumped to $36.5 million for the quarter. Web: klx.com