B/E Aerospace, Inc. to Present at Credit Suisse Conference; Confirms Earnings Guidance for 2008-2010; Comments on Revenue and Ba
August 14 2008 - 6:00AM
Business Wire
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.
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