BE Aero 3Q Profit Rises 42 Percent
B/E Aerospace Inc., a supplier of aircraft cabin products, said Tuesday third-quarter earnings rose 42 percent as revenue rose sharply across all operating segments and bookings and backlog hit new highs.
B/E Aerospace Inc., a supplier of aircraft cabin products, said Tuesday third-quarter earnings rose 42 percent as revenue rose sharply across all operating segments and bookings and backlog hit new highs.
Net income climbed to $44.5 million, or 48 cents per share, from $31.4 million, or 40 cents per share, in the year-ago period. The result exceeded estimates on Wall Street, where analysts polled by Thomson Financial expected a profit of 41 cents per share.
Sales jumped 49 percent to $428.2 million from $287.9 million last year, easily surpassing analyst estimates for sales of $400 million. The unit that makes seating and the engineering services business paced the sales increases. Seating demand was driven by an increase in retrofitting demand.
