- Revenues of $654.7 million increased 20.8 percent.
- Operating earnings of $109.1 million increased 33.4 percent and operating margin of 16.7 percent expanded by 160 basis points. Adjusted operating earnings, which exclude AIT costs in both periods, were $114.4 million, an increase of 25.7 percent, and adjusted operating margin of 17.5 percent expanded 70 basis points.
- Fourth quarter 2011 net earnings and earnings per diluted share were $57.3 million and $0.56 per share, respectively, increases of 83.7 percent and 80.6 percent, respectively, as compared with the fourth quarter of 2010. Fourth quarter 2011 adjusted net earnings and adjusted earnings per diluted share, which exclude AIT costs in both periods, and debt prepayment costs in 2010, were $61.0 million and $0.60 per share, respectively, increases of 42.2 percent and 42.9 percent, respectively.
- Boeing selected B/E Aerospace as its exclusive manufacturer of modular lavatory systems for the Boeing 737 NG family of airplanes, as well as the 737 MAX, in a program with an estimated value in excess of $800 million, exclusive of retrofit orders, which are expected to be substantial.
- 2011 bookings were approximately $2.9 billion, a record; total backlog, both booked and awarded but unbooked, expanded to approximately $7.9 billion, also a record, and increased in excess of 35 percent as compared with December 31, 2010.
- On January 30, 2012, the Company acquired UFC Aerospace Corp. (UFC), an innovative provider of complex supply chain management and inventory logistics solutions, in a $400 million all cash transaction.
- The Company confirmed its recently raised full-year 2012 guidance of approximately $2.75 per diluted share, representing a year-over-year increase of approximately 23 percent.
B/E Aerospace (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 2011 financial results. Fourth quarter 2011 revenues, operating earnings and earnings per diluted share increased 21 percent, 33 percent and 81 percent, respectively, on a GAAP basis, as compared to the fourth quarter of 2010. During the fourth quarters of both 2010 and 2011, the Company acquired two businesses. In connection therewith the Company incurred acquisition, integration and transition (AIT) costs. As a result, the Company is providing financial information herein on both a GAAP basis and on an as adjusted basis. FOURTH QUARTER 2011 HIGHLIGHTS VERSUS FOURTH QUARTER PRIOR YEAR