BE Aerospace Inc. (BEAV: Quote) posted higher first-quarter net earnings of $68.8 million or $0.67 per share compared with $50.3 million or $0.49 per share last year.
Excluding AIT costs, adjusted net earnings were $71.8 million or $0.70 per share during the latest quarter. On average, 19 analysts polled by Thomson Reuters expected earnings per share of $0.62 for the quarter. Analysts' estimates typically exclude one-time items.
Quarterly revenues of $747.3 million increased 24.5 percent from the prior year's $600.2 million, whereas 16 analysts estimated revenues of $702.43 million for the quarter. Pro forma revenue growth, giving effect to all 2011 and 2012 acquisitions as if they had occurred on January 1, 2011, was 16.9 percent.
For 2012, the company estimates earnings of around $2.75 per share and revenues of nearly $2.95 billion, while 19 analysts project earnings of $2.80 per share on $2.98 billion revenue. BE Aerospace also anticipates continued strong orders in 2012 driven by the robust wide-body aircraft delivery outlook and solid aftermarket demand.
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by RTT Staff Writer
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