B/E Aerospace's Q1 profit rises, raises outlook
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NEW YORK, April 30 (Reuters) - B/E Aerospace Inc. (BEAV.O) said on Monday its first-quarter profit rose sharply, helped by higher sales of its aircraft interior products on the back of an extended boom in demand for air travel.
The world's largest maker of plane seats, which also fits out commercial and business jets with oxygen masks, food carts and other equipment, said it was increasing its profit forecast for 2007 and was on track to exceed its 2008 earnings and margin expansion targets.
Net income in the first quarter increased to $32.1 million, or 40 cents per share, compared with $13.8 million, or 18 cents per share, in the same period last year.
Wall Street analysts on average expected the company to make a profit of 32 cents per share, according to Reuters Estimates.
Revenue increased 56.9 percent to $387.8 million, which compared with the average of analysts' forecasts of $323.3 million.
Looking ahead, the company forecast a profit per share in 2007 of about $1.55, compared with its earlier outlook of $1.45 to $1.47. Analysts expect it to post a profit of $1.46.
((Reporting by Paritosh Bansal, editing by Greg Mahlich; tel 646-223-6000; paritosh.bansal@reuters.com)) Keywords: BEAEROSPACE RESULTS/
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