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B/E Aerospace Reports Third Quarter 2012 Financial Results; EPS $0.74 Excluding Debt Prepayment Costs; Raises 2012 Guidance And Provides 2013 Guidance

Third quarter 2012 consumables management segment (CMS) operating earnings, adjusted to exclude AIT costs, were $59.2 million an increase of 24.4 percent as compared with the prior year period. Operating margin, adjusted to exclude AIT costs, was 20.0 percent and expanded 10 basis points. On a GAAP basis, to include AIT costs of $4.6 million, operating earnings were $54.6 million.

Third quarter 2012 business jet segment (BJS) operating earnings of $12.4 million increased 57.0 percent as compared with the prior year period. Operating margin of 14.5 percent expanded 220 basis points as compared with the prior year period, reflecting the 32.9 percent increase in revenues, an improved mix of revenues and ongoing operational improvements.

NINE MONTH CONSOLIDATED RESULTS

For the nine months ended September 30, 2012, revenues of $2.28 billion increased 23.7 percent as compared with the prior year period while operating earnings, adjusted to exclude AIT costs, were $415.0 million, and increased 30.1 percent. Operating margin, adjusted to exclude AIT costs, was 18.2 percent and expanded 90 basis points as compared with the prior year period. Operating earnings, on a GAAP basis to include AIT costs, were $401.9 million or 17.6 percent of sales.

Net earnings and earnings per diluted share for the nine months ended September 30, 2012, adjusted to exclude both debt prepayment costs and AIT costs, were $225.2 million and $2.19 per share, increases of 32.1 percent and 31.1 percent, respectively, as compared to the prior year period. Net earnings and earnings per diluted share for the nine months ended September 30, 2012, adjusted to exclude debt prepayment costs, were $216.0 million and $2.10 per share.

On a GAAP basis to include debt prepayment and AIT costs, for the nine months ended September 30, 2012, net earnings and earnings per diluted share, were $158.5 million and $1.54 per share.

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