WELLINGTON, Fla.--(BUSINESS WIRE)-- <\/p>\n
B\/E Aerospace, Inc. (BEAV), the worlds leading manufacturer of aircraft cabin interior products and the worlds leading provider of aerospace fasteners, consumables and logistics services, today announced its third quarter 2013 financial results. <\/p>\n
THIRD QUARTER 2013 HIGHLIGHTS VERSUS THIRD QUARTER PRIOR YEAR <\/p>\n
THIRD QUARTER CONSOLIDATED RESULTS <\/p>\n
Third quarter 2013 revenues of $888.1 million increased $121.4 million, or 15.8 percent, as compared with the prior year period. <\/p>\n
Third quarter 2013 operating earnings were $160.1 million, an increase of 19.2 percent, and operating margin of 18.0 percent increased 50 basis points as compared to the prior year period. Acquisition, integration and transaction (AIT) costs in the third quarter were approximately $6.9 million, including expenses associated with the Blue Dot Energy Services LLC (Blue Dot) acquisition. Operating earnings, adjusted to exclude AIT costs, were $167.0 million, an increase of 20.2 percent, and adjusted operating margin of 18.8 percent increased 70 basis points compared to the prior year similarly adjusted to exclude AIT costs. <\/p>\n
Third quarter 2013 net earnings and earnings per diluted share were $92.7 million and $0.89 per share, increases of 26.5 percent and 25.4 percent, respectively, as compared with the prior year period, as adjusted to exclude third quarter 2012 debt prepayment costs and adjusting the third quarter 2012 tax rate to the higher third quarter 2013 tax rate for comparability purposes. <\/p>\n
Commenting on the Companys third quarter 2013 performance, Amin J. Khoury, Chairman and Chief Executive Officer of B\/E Aerospace said, Todays third quarter 2013 results include record quarterly revenues, bookings, and operating earnings. Our revenue growth this quarter was driven by a double-digit increase in aftermarket demand, as well as a double-digit increase in demand related to the strong commercial aircraft delivery cycle. In addition, we are pleased to report that the consumables management segment aftermarket business experienced an accelerating growth rate in both revenues and orders during the quarter. <\/p>\n
THIRD QUARTER SEGMENT RESULTS <\/p>\n
The following is a tabular summary and commentary of revenues and operating earnings by segment for the three months ended September 30, 2013 and 2012: <\/p>\n
<\/p>\n
More:<\/p>\n
B\/E Aerospace Third Quarter 2013 Results Exceed Expectations; Provides 2014 Guidance<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" WELLINGTON, Fla.--(BUSINESS WIRE)-- B\/E Aerospace, Inc. (BEAV), the worlds leading manufacturer of aircraft cabin interior products and the worlds leading provider of aerospace fasteners, consumables and logistics services, today announced its third quarter 2013 financial results Continue reading