B/E Aerospace revenue up 13% in 4Q2010

B/E Aerospace revenue up 13% - financial highlights:

• Three months ended 31-Dec-2010:
  • Revenue: USD541.8 million, +13.0% year-on-year;
    • Commercial aircraft: USD280.8 million, +17.5%;
  • Adjusted operating profit: USD91.0 million, +26.6%;
    • Commercial aircraft: USD44.4 million, +42.8%;
  • Net profit: USD31.2 million, -6.3%;
• 12 months ended 31-Dec-2010:
  • Revenue: USD1984.2 million, +2.4%;
    • Commercial aircraft: USD997.5 million, +9.5%;
  • Adjusted operating profit: USD325.2 million, +9.8%;
    • Commercial aircraft: USD153.5 million, +26.9%;
  • Net profit: USD143.3 million, +0.9%;
  • Total assets: USD3418 million, +20.3%;
  • Total liabilities: USD1814 million, +30.3%. [more]

B/E Aerospace: "Currently, a number of factors that significantly influence our business are positive. The global economy, a key factor in driving global passenger traffic, continues to recover. As a result, the global airlines are experiencing strong growth in revenues, profitability and liquidity. Growing passenger traffic is driving smart capacity increases and higher aircraft utilisation. In addition, due to record widebody backlogs at the major OEM's, widebody aircraft deliveries are expected to grow at an approximately 75% higher average rate as compared to 2010 deliveries each year from 2011 to 2014 and to continue to catalyse retrofit activity," Amin Khoury, Chairman and CEO.