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B/E Aerospace Reports Fourth Quarter And Full Year 2012 Financial Results; Fourth Quarter 2012 EPS Up 30%; Full Year 2012 EPS Up 26% Excluding Debt Prepayment Costs; Raises 2013 Guidance

Stocks in this article: BEAV

B/E Aerospace, Inc. (Nasdaq: BEAV), the world’s leading manufacturer of aircraft cabin interior products and the world’s leading distributor of aerospace fasteners and consumables, today announced fourth quarter and full year 2012 financial results.


  • Revenues of $803.2 million increased 22.7 percent.
  • Operating earnings were $138.1 million, an increase of 26.6 percent, and operating margin of 17.2 percent increased 50 basis points.
  • Net earnings and earnings per diluted share were $75.2 million and $0.73 per share, increases of 31.2 percent and 30.4 percent, respectively.


  • Revenues of $3.085 billion increased 23.4 percent.
  • Operating earnings were $540.0 million, an increase of 26.2 percent, and operating margin of 17.5 percent increased 40 basis points.
  • Net earnings and earnings per diluted share, adjusted to exclude debt prepayment costs, were $291.3 million and $2.83 per share, reflecting increases of 27.9 percent and 26.3 percent, respectively.
  • Net earnings and earnings per diluted share, on a GAAP basis to include debt prepayment costs, were $233.7 million and $2.27 per share.


  • The Company is increasing its 2013 earnings per share (EPS) guidance by $0.07 per share to approximately $3.45 per diluted share, representing an increase in EPS of approximately 22 percent as compared to 2012 EPS (2012 EPS adjusted to exclude debt prepayment costs).


Fourth quarter 2012 revenues of $803.2 million increased $148.5 million, or 22.7 percent, as compared with the prior year period.

Operating earnings were $138.1 million, an increase of 26.6 percent, and operating margin of 17.2 percent increased 50 basis points. 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 and operating margin, adjusted to exclude acquisition, integration and transition (AIT) costs, were $142.2 million and 17.7 percent.

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