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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

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.

Commenting on the Company’s fourth quarter and full year 2012 performance, Amin J. Khoury, Chairman and Chief Executive Officer of B/E Aerospace said, “I am pleased to report, our 2012 results which were the best in the Company’s history. 2012 revenues, operating earnings, operating margin, bookings and backlog were all records, and net earnings and EPS, adjusted to exclude debt prepayment costs, were also records. Our revenue growth continues to be driven primarily by the robust new aircraft delivery cycle. Approximately 61 percent of fourth quarter and full year 2012 revenues was driven by demand for products for new-buy aircraft reflecting both robust new aircraft deliveries and weaker aftermarket demand.”

“Our 2013 guidance of approximately 22 percent earnings per share growth is based primarily on our high quality backlog, the expectation of strong wide-body deliveries, a modest recovery in the aftermarket and significant continuing margin expansion,” stated Mr. Khoury.

FOURTH QUARTER SEGMENT RESULTS

The following is a tabular summary and commentary of revenues and operating earnings by segment:

 

REVENUES
Three Months Ended December 31,  
    ($ in millions)    
Segment   2012   2011 % Change  
Commercial aircraft $ 398.6 $ 350.1 13.9 %
Consumables management 301.8 234.1 28.9 %
Business jet   102.8   70.5 45.8 %
Total $ 803.2 $ 654.7 22.7 %
 
OPERATING EARNINGS
Three Months Ended December 31,
    ($ in millions)    
Segment   2012 2011 % Change  
Commercial aircraft $ 68.6 $ 58.2 17.9 %
Consumables management 54.8 42.6 28.6 %
Business jet   14.7   8.3 77.1 %
Total $ 138.1 $ 109.1 26.6 %

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