Fastener Sales Soar at B/E Aerospace
Fastener Sales Soar at B/E Aerospace
Jason Sandefur
B/E Aerospace reported distribution sales, including fasteners, totaled $232.5 million during the fourth quarter of 2008 due to its acquisition of Honeywell’s aerospace fastener distribution business, Honeywell Consumable Solutions, for $1.05 billion during the third quarter of 2008. The move transformed B/E Aerospace into one of the largest distributors of aerospace fasteners in the world. Q4 distribution operating earnings swelled to $49.5 million.
Full-year distribution sales grew 80.4% to $697.3 million in 2008, with operating earnings rising 85% to $158.5 million.
For the year, overall revenue increased 25.8% to a record $2.1 billion, boosted by acquisitions. Operating earnings climbed 43.2% to $353.8 million, while net income gained 36% to $200.6 million. Web: beaerospace.com �2009 FastenerNews.com
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