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Update 1-B/E Aerospace's Q1 profit falls

Mon Apr 27, 2009 3:17am EDT

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AERO AER ELC US IND MUL RES RESF INDG INDS BACT

* Q1 Adj Shr $0.41 vs Consensus Estimates $0.39

* Sees 2009 Shr $1.50 vs Consensus Estimates $1.79 (Adds further details)

April 27 (Reuters) - B/E Aerospace Inc (BEAV.O), the world's biggest supplier of aircraft interior products, posted a lower first-quarter profit on Monday, as the global economic slowdown hit its airline customers.

The company, which fits out commercial and business jets with oxygen masks, food carts and other equipment, reported a quarterly net profit of $37.9 million or 38 cents per share, down from $48.5 million or 53 cents per share in the same period a year ago.

Excluding acquisition, integration and transition (AIT) costs related to the company's acquisition of Honeywell International Inc's (HON.N) Consumables Solutions (HCS) unit, profit was 41 cents per share.

Analysts on average were expecting earnings of 39 cents per share, excluding items, according to Reuters Estimates.

B/E Aerospace said it expects its 2009 earnings to be $1.50 per share, excluding AIT costs of 10 cents per share, while it expects 2009 revenue to fall about 23 percent from 2008 proforma revenue to $1.9 billion. [ID:nWNAB8226]

Analysts on average have been expecting 2009 earnings of $1.79 on revenue of about $2.19 billion, according to Reuters Estimates. (Reporting by Ajay Kamalakaran in Bangalore; Editing by Greg Mahlich)



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