Fastener Sales Jump at B/E Aerospace
Fastener Sales Jump at B/E Aerospace
Jason Sandefur
With the ink on the $1.05 billion deal to acquire Honeywell’s aerospace fastener business still drying, B/E Aerospace reported that distribution segment revenue, including fasteners, jumped 28.3% to $123.6 million during the second quarter of 2008. The company said strong fastener sales growth “reflects the significant ongoing investments in product line expansion, the broad-based increase in aftermarket demand for aerospace fasteners and continued market share gains.”
Distribution earnings soared 45% to $31.6 million during Q2, “reflecting the synergies from the New York Fasteners (NYF) integration and a significantly improved and expanded mix of products on a number of programs.”
During the first half of 2008, distribution sales rose 27% to $245.6 million, while operating earnings gained 61% to $66.9 million.
Overall Q2 sales grew 31% to $522.2 million, while net earnings increased 89% to $53.9 million. Web: beaerospace.com �2008 FastenerNews.com
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