Fastener Sales Soar 75% at B/E Aerospace
Fastener Sales Soar 75% at B/E Aerospace
Jason Sandefur
Aftermarket demand for aerospace fasteners helped drive up B/E Aerospace distribution sales 75.1% to $96.3 million during the second quarter of 2007. The company said the increase reflected “a significant expansion in product line,” as well as “a channel shift from OEMs to subcontractors.” The organic revenue growth rate for the distribution segment was 33.2%. Segment operating earnings jumped 84.7% to $21.8 million during Q2.
During the first six months of 2007 distribution sales, including fasteners, rose 77.7% to $193.2 million, while operating earnings increased 75.8% to $41.5 million.
“The distribution segment operating margin is expected to expand in 2008 and beyond as the NYF acquisition integration activities are completed,” the company noted. B/E Aerospace acquired New York Fasteners Corp. (NYF) for $66.5 million in September 2006.
Overall revenue gained 46.7% to $398.2 million during Q2, with operating earnings growing 68.6% to $59.5 million. B/E Aerospace revenue during the first half of 2007 improved 51.5% to $786 million, while operating income jumped 74.5% to $115.9 million. Web: beaerospace.com �2007 FastenerNews.com
There are no comments at the moment, do you want to add one?
Write a comment