B/E Aerospace Inc., in potentially its last earnings report as an independent company, reported Friday an 8.9 percent jump in fiscal 2016 net income to $311.1 million.

B/E agreed Oct. 23 to be sold to Rockwell Collins for $6.4 billion in cash and stock and $1.9 billion in B/E debt.

Although B/E is based on Wellington, Fla., its largest U.S. workforce is in Winston-Salem, having grown from 850 employees to more than 1,300 employees since 2011. B/E has 10,057 employees globally, according to MSNMoney.com.

The deal is expected to close in the spring, with both companies shareholders holding a vote on the deal March 9.

Rockwell executive Kelly Ortberg provided analysts Wednesday with an update on the deal. He said the companies have Securities and Exchange Commission approval, but are awaiting on regulatory approvals in the U.K., China and the Philippines, the latter two could take until early April to obtain.

Were actively planning the integration, Ortberg said. Well be ready to go as soon as we hear from the Chinese approval.

B/E shareholders would own 20 percent of Rockwell.

Rockwells focus is on flight deck avionics, cabin electronics, mission communications, simulation and training, and information management systems.

What it is acquiring from B/E Aerospace Inc. is an array of cabin interior products, which include seating, food and beverage preparation and storage equipment, lighting and oxygen systems, and modular galley and lavatory systems for commercial airliners and business jets.

Rockwell said it would have about 30,000 employees if the B/E sale is completed, along with $8.1 billion in annual revenues.

Ortberg said Rockwell will eliminate quickly duplication of public company costs as well as target direct and indirect supply chain expenses.

He continued to stress cost savings would come from shifting engineering and production to lower-cost countries such as India.

We think theres opportunity for us to do more work in India, where we have about 250 engineers, and gain some of that labor arbitrage going forward, Ortberg said.

Theres areas where we duplicate facilities, duplicate sales offices, duplicate capability within the business that were just going to need to get the teams together and spend some time figuring out how were going to gain those synergies and become more efficient.

As is customary for a company in the process of being sold, B/E provided a bare-bone earnings report with no management commentary.

Fiscal 2016 diluted earnings were $3.08 a share, up 35 cents. Adjusted earnings were $3.28, reflecting a 20-cent charge related to $21.9 million in merger-related expenses taken in the fourth quarter.

The average earnings forecast was $3.27 by nine analysts surveyed by Zacks Investment Research. Analysts typically do not include one-time gains and charges in their forecasts.

Full-year revenue increased 7.4 percent to $2.93 billion.

For the fourth quarter, net income was $60.4 million, down 4.7 percent. Adjusted net income was $80.4 million.

Diluted earnings were 60 cents, down 1 cent, while adjusted earnings were 80 cents. The average earnings forecast was 80 cents by seven analysts.

Revenue rose 10.8 percent to $730.4 million.

The company did not provide a breakdown on commercial aircraft and business jet segment sales.

Rockwell reported Jan. 20 a 7.4 percent increase in net income to $145 million for its first quarter of fiscal 2017.

Rockwells diluted earnings were $1.10 a share, up 8 cents from a year ago. Rockwell took charges worth a combined 10 cents in earnings, the equivalent of $14 million, related to the B/E acquisition.

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B/E Aerospace finishes fiscal 2016 with solid profit increase - Winston-Salem Journal