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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

For the year ended December 31, 2012, CAS operating earnings of $271.3 million increased 25.6 percent as compared with the prior year period. Operating margin of 17.5 percent expanded 90 basis points as compared with the prior year period due to operating leverage at the higher revenue level and ongoing operational efficiency initiatives.

For the year ended December 31, 2012, CMS operating earnings, adjusted to exclude AIT costs, were $233.9 million. Adjusted operating margin of 20.0 percent increased 10 basis points.

For the year ended December 31, 2012, BJS operating earnings of $52.0 million increased 79.9 percent as compared with the prior year period. Operating margin of 14.3 percent expanded 290 basis points, reflecting the 42.8 percent increase in revenues, an improved mix of revenues and ongoing operational improvements.

LIQUIDITY AND BALANCE SHEET METRICS

Free cash flow of $110.1 million in the current quarter represents a free cash flow conversion ratio of 146.4 percent of net earnings. For the year ended December 31, 2012, free cash flow of $229.7 million represents a free cash flow conversion ratio of 98.3 percent of net earnings. As of December 31, 2012, cash was $513.7 million, net debt, which represents total long term debt of $1.96 billion less cash, was $1.45 billion and the Company’s net debt-to-net capital ratio was 39.9 percent.

BOOKINGS/BACKLOG

Bookings during the fourth quarter of 2012 were approximately $810 million and reflect a book-to-bill ratio of approximately 1 to 1. Approximately 60 percent of bookings in the current quarter were driven by a higher level of demand for products to outfit new-buy aircraft. Throughout the year, each of the Company’s segments had solid market successes as shown by record bookings of approximately $3.2 billion, an increase of approximately 10 percent as compared with 2011.

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