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B/E Aerospace, Inc. (NASDAQ: BEAV), Wellington, FL, reported first quarter sales of $1.01 billion, an increase of 20.1 percent compared to the same period a year ago. Profit increased 21.2 percent to $109 million.
First-quarter commercial aircraft segment sales increased 24.6 percent; operating earnings of $93.1 million increased 25.5 percent compared with the prior-year period, and operating margin of 17.8 percent expanded 10 basis points.
Consumables management segment sales increased 12.2 percent; operating earnings of $71 million increased 9.6 percent, and operating margin, adjusted to exclude first quarter acquisition costs was 19.6 percent.
Business jet segment sales increased 26.9 percent while operating earnings of $21.1 million increased 45.5 percent from the prior-year period. Operating margin of 17.4 percent expanded 210 basis points as compared with the prior year period, reflecting an improved mix of revenues and ongoing operational efficiency initiatives.