B/E Aerospace Inc. (BEAV) reported that its first-quarter net income increased to $89.9 million or $0.87 per share, from $68.8 million or $0.67 per share last year. First-quarter revenues were $842.2 million, up 12.7 percent from prior year period. The company said its revenue growth continues to be driven primarily by the robust new aircraft delivery cycle. Approximately 61 percent of first-quarter revenues was driven by demand for products, the company said.
On average, 19 analysts polled by Thomson Reuters expected the company to report profit of $0.80 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $808.29 million for the quarter.
The company expects 2013 revenues of approximately $3.35 billion, and profit per share of approximately $3.45. Analysts expect the company to report fiscal 2013 profit per share of $3.47 on revenue of $3.39 billion.
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