B/E Aerospace, Inc. (Nasdaq:BEAV), the world's leading manufacturer of
aircraft cabin interior products and the world’s
leading distributor of aerospace fasteners, today confirmed its earnings
guidance for 2008-2010 and commented on its expectations for continued
backlog growth through 2010.
In connection with the company’s presentation
at the Credit Suisse conference on August 14, 2008 in Boston, MA, B/E
Aerospace confirmed its earnings per share guidance of approximately
$2.22, $2.85 and $3.65 per diluted share, respectively, for 2008, 2009
and 2010. The guidance is exclusive of debt prepayment, integration and
transition costs associated with the acquisition of the Honeywell
Consumables Solutions distribution business (HCS) which was completed on
July 28, 2008.
Commenting on the company’s outlook, Amin J.
Khoury, Chairman and Chief Executive Officer of B/E Aerospace, Inc.
stated, “While we expect revenue growth of
approximately 25 percent in 2009, growth will be driven primarily by our
distribution segment and although we expect tepid revenue growth in our
commercial aircraft and business jet groups in 2009, we expect strong
earnings growth in both groups driven by margin expansion. In addition,
we expect double digit revenue growth in both the commercial aircraft
and business jet groups in 2010.”
“The current robust RFP activity and our
developing positions on the B787, B747-8, A350 XWB and A380 support our
expectation of continued backlog growth in 2009 and 2010, double digit
revenue growth in 2010, and continued revenue growth thereafter,”
concluded Mr. Khoury.
This news release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Such forward-looking statements involve
risks and uncertainties. B/E Aerospace’s
actual experience and results may differ materially from the experience
and results anticipated in such statements. Factors that might cause
such a difference include those related to the expected benefits from
the HCS acquisition, changes in market and industry conditions and those
discussed in B/E Aerospace’s filings with the
Securities and Exchange Commission, which include its Proxy Statement,
Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current
Reports on Form 8-K. For more information, see the section entitled “Forward-Looking
Statements” contained in B/E Aerospace’s
Annual Report on Form 10-K and in other filings. The forward-looking
statements included in this news release are made only as of the date of
this news release and, except as required by federal securities laws, we
do not intend to publicly update or revise any forward-looking
statements to reflect subsequent events or circumstances.
About B/E Aerospace, Inc.
B/E Aerospace, Inc. is the world’s leading
manufacturer of aircraft cabin interior products, and the world’s
leading distributor of aerospace fasteners. B/E Aerospace designs,
develops and manufactures a broad range of products for both commercial
aircraft and business jets. B/E Aerospace manufactured products include
aircraft cabin seating, lighting, oxygen, and food and beverage
preparation and storage equipment. The Company also provides cabin
interior design, reconfiguration and passenger-to-freighter conversion
services. Products for the existing aircraft fleet - the aftermarket -
generate about 60 percent of sales. B/E Aerospace sells and supports its
products through its own global direct sales and product support
organization.
B/E Aerospace, Inc.
Greg Powell, Vice President, Investor Relations
561-791-5000
ext. 1450
greg_powell@beaerospace.com