July 24, 2012
B/E Aerospace reports second quarter 2012 results
B/E Aerospace reported second quarter 2012 revenues of $768.1m an increased $159.2m as compared with the same period of the prior year. Pro forma revenue growth, giving effect to all acquisitions completed during 2011 and 2012 as if they had occurred on January 1, 2011, was 17.6%. Exclusive of items, second quarter 2012 operating earnings of $142.0m increased 33.1% on the aforementioned 26.1% increase in revenues and operating margin of 18.5% expanded 100 basis points as compared with the prior year period, while net earnings and net earnings per diluted share were $74.0m and $0.72 per share, respectively, increases of 35.0% and 33.3%, respectively, as compared with the second quarter of 2011. Second quarter 2012 commercial aircraft segment (CAS) operating earnings of $69.9m increased 34.7% as compared with the prior year period. Operating margin of 17.8% expanded 100 basis points as compared with the prior year period, due to an improved revenue mix and ongoing operational efficiency initiatives.