Key Developments For BE Aerospace, Inc.
BE Aerospace, Inc. (BEAV.O) (Nasdaq)
B/E Aerospace, Inc. Issues Q4 2009 Guidance; EBIT Guidance Below Analysts' Estimates; Issues FY 2010 EPS Guidance; Revenue Guidance In Line With Analysts' Estimates; Comments On FY 2011 Guidance
B/E Aerospace, Inc. announced that for the fourth quarter of 2009, it expects revenue and operating earnings to be approximately equal to that of the third quarter of 2009. Fourth quarter of 2009, earnings per diluted share (EPS) are expected to be lower than third quarter of 2008 EPS due to a higher fourth quarter tax rate and a debt prepayment charge of approximately $0.02 per diluted share related to a planned $100 million prepayment of long-term debt in the fourth quarter. As a result fourth quarter of 2009 EPS, including the debt prepayment charge of $0.02 per diluted share, are expected to be approximately $0.31. For fiscal 2010, it expects revenue to be approximately $1.85 billion and EPS to be flat at approximately $1.40 per diluted share, including AIT costs of approximately $0.03 per diluted share, due to improved margins on the approximately 5% lower revenue level. For fiscal 2011, it expects a substantial increase in both revenue and earnings. The Company reported EBIT of $69.6 million on revenue of $460 million in the third quarter of 2009. According to Reuters Estimates, analysts are expecting the Company to report EBIT of $73.4 million on revenue of $460 million for the fourth quarter of 2009; revenue of $1.85 billion for fiscal 2010; EPS of $1.74 on revenue of $2.00 billion for fiscal 2011.
B/E Aerospace, Inc. Reaffirms FY 2009 Guidance; Comments On Q3, Q4 2009 And FY 2010 Guidance
B/E Aerospace, Inc. reaffirmed its fiscal 2009 guidance for revenues of approximately $1.9 billion and net earnings per share (EPS) to be approximately $1.40. The Company also announced that revenues are expected to be approximately 5% lower in fiscal 2010 than in fiscal 2009, primarily due to the lower level of bookings in fiscal 2009, a further significant deterioration in the business jet segment in fiscal 2010 and a lower level of new commercial aircraft deliveries in fiscal 2010. The company, nevertheless, currently expects approximately flat fiscal 2010 earnings per diluted share on the lower sales due to improved margins. The company expects quarterly revenues and earnings to remain approximately flat for the balance of 2009. According to Reuters Estimates, analysts are expecting the Company to report GAAP EPS of $1.35 on revenue of $1.9 billion for fiscal 2009; GAAP EPS of $1.52 on revenues of $1.953 billion for fiscal 2010.
B/E Aerospace, Inc. Reaffirms FY 2009 Guidance-Conference Call
B/E Aerospace, Inc. reaffirmed its fiscal 2009 guidance for revenues of about $1.9 billion and earnings per share (EPS) of $1.50. According to Reuters Estimates, analysts are expecting the Company to report revenue of $1.9 billion for fiscal 2009.
B/E Aerospace, Inc. Wins $150 Million Initial Launch Orders from Bombardier, Dassault and Embraer for B/E Aerospace`s New Aircraft Waste Water System
B/E Aerospace, Inc. announced that its technologically advanced vacuum waste systems have been selected by a number of major business jet manufacturers for next generation aircraft platforms. These programs are initially valued in excess of $150 million, with volume production commencing in 2011. B/E Aerospace`s vacuum waste management systems were selected for the following new aircraft platforms, including: Bombardier Learjet 85, Dassault Falcon 7X, and Embraer Legacy 450 and Legacy 500.
B/E Aerospace, Inc. Wins Contract To Supply Cabin Lighting For Boeing 737 Program
B/E Aerospace, Inc. announced that The Boeing Company has selected B/E Aerospace as its manufacturer of cabin lighting for the Boeing 737 aircraft program. B/E Aerospace supplier furnished equipment (SFE) system will become standard equipment on all Boeing 737 aircraft, and is part of B/E Aerospace`s $2.3 billion unbooked SFE backlog. Program deliveries are expected to commence in late 2010, with volume deliveries commencing in 2011. B/E Aerospace`s digital light-emitting-diode (LED) lighting system will play a critical role in the new Boeing Sky Interior for the 737.
