Business

July 24, 2012

BE Aerospace second quarter profit rises, forecast disappoints

BE Aerospace Inc. said July 24 that second-quarter profit rose 30 percent on stronger demand for new aircraft, but the maker of cabin interiors for airliners predicted lower-than-expected full-year earnings.

The company said that excluding special items it will earn about $2.75 per share on revenue of $3 billion this year. Analysts were expecting $2.81 per share on revenue of $3.04 billion.

BE said net income was $71.2 million, or 69 cents per share, compared with $54.8 million, or 54 cents per share, a year earlier. Without acquisition costs and other items, the company said it would have earned 72 cents per share.

Revenue climbed 26 percent to $768.1 million.

Analysts surveyed by FactSet expected earnings of 68 cents per share on revenue of $752.3 million.

BE said its revenue was rising on a pickup in deliveries of new aircraft, offsetting weaker demand for refurbishing work. Manufacturers such as Boeing and Airbus have reported major orders of new planes as airlines seek to refresh their fleets with more fuel-efficient aircraft. AP

 

 




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