B/E Aerospace revenue up 30% in 1Q2011

B/E Aerospace revenue up 30% - financial highlights for the three months ended 31-Mar-2011:

• Revenue: USD600.2 million, +29.5% year-on-year;
  • Commercial aircraft: USD310.3 million, +34.9%;
• Operating profit: USD100.1 million, +39.0%;
  • Commercial aircraft: USD49.3 million, +45.9%;
• Net profit: USD50.3 million, +48.8%;
• Total assets: USD3574 million, +4.6%;
• Ash and cash equivalents: USD120.8 million, +53.5%;
• Total liabilities: USD1885 million, +3.9%. [more]

B/E Aerospace: "The global economy and global passenger traffic continued to recover, in spite of a number of challenges. Our airline customers have responded rationally by carefully managing capacity and passing on cost increases in an orderly fashion. US airlines have successfully implemented approximately eight fare increases so far this year, more or less offsetting the higher cost of fuel. Order rates for spares and consumables continue to grow at double digit rates. In addition, due to record wide-body backlogs at the major OEMs, widebody aircraft deliveries are expected to increase approximately 25% in 2011 as compared to 2010 deliveries and to continue to catalyse retrofit activity," Amin Khoury, Chairman and Chief Executive Officer. Source: B/E Aerospace, 25-Apr-2011.