October 26, 2012
B/E Aerospace reports third quarter 2012 financial results
B/E Aerospace reported third quarter 2012 revenues of $766.7m an increase of $130.7m, or 20.6%, as compared with the same period of the prior year. Organic revenue growth, excluding 2012 acquisitions, was 10.5%. Operating earnings, adjusted to exclude $4.6m of AIT costs, were $138.9m, an increase of 23.9% and operating margin of 18.1% increased 50 basis points as compared to the prior year period. The growth in operating earnings and the improvement in operating margin occurred primarily as a result of operating leverage at the higher sales volume and ongoing operational efficiency initiatives. Operating earnings, on a GAAP basis to include AIT costs, were $134.3m or 17.5% of sales. Net earnings and earnings per diluted share, adjusted to exclude both one-time debt prepayment costs and AIT costs were $79.2m, an increases of 21.1% as compared to the prior year period. Net earnings adjusted to exclude the one-time debt prepayment costs, were $76.0m.