B/E Aerospace Inc. (NASDAQ: BEAV), Wellington, FL, reported sales for the second quarter of $850.3 million, an increase of 10.7 percent compared to the same period a year ago. Profit increased 29.8 percent to $92.4 million.
Second-quarter commercial aircraft segment sales increased 9.9 percent; operating earnings of $79.7 million increased 14 percent compared with the prior-year period, and operating margin of 18.5 percent expanded 70 basis points, due to operating leverage at the higher revenue level and ongoing operational efficiency initiatives.
Consumables management segment sales increased 9.1 percent; operating earnings of $61.3 million increased 10.5 percent, and operating margin of 19.6 percent expanded 20 basis points from 2012 levels.
Business jet segment sales increased 19.3 percent while operating earnings of $17.7 million increased 42.7 percent from the prior-year period. Operating margin of 16.6 percent expanded 270 basis points as compared with the prior year period, reflecting the increase in revenues, an improved mix of revenues and ongoing operational efficiency initiatives.
For the first six months, sales for B/E were $1.7 billion, an increase of 11.7 percent year-over-year. First-half profit increased 30.2 percent to $182.3 million.
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