BE Aerospace (BEAV) Breakout Message Board

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Technology Stocks : BE Aerospace (BEAV) Breakout

BEAV 64.47

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Apr 21 4:00 PM EDT

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From: JakeStraw	7/29/2008 7:59:23 AM
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B/E Aerospace Second Quarter Results Exceed Expectations; Record Net Sales up 31%; Record Operating Earnings up 42%; Record Net Income and Net Earnings Per Share up 90%; Raises 2008 Financial Guidance biz.yahoo.com Tuesday July 29, 2:00 am ET WELLINGTON, Fla.--(BUSINESS WIRE)--B/E Aerospace, Inc. (Nasdaq:BEAV), the world’s leading manufacturer of aircraft cabin interior products and the leading aftermarket distributor of aerospace fasteners, today announced financial results for the second quarter of 2008. Highlights * Record second quarter net sales of $522.2 million reflect 31.1 percent year-over-year organic growth. * Record second quarter operating earnings of $84.3 million increased by 41.7 percent as compared with the second quarter of the prior year. Second quarter operating margin of 16.1 percent expanded by 120 basis points compared to the second quarter of the prior year. * Record second quarter net earnings of $53.9 million increased by 89.8 percent as compared with the second quarter of the prior year. Second quarter net earnings per diluted share of $0.59 increased by 90.3 percent. * Record bookings for the quarter totaled approximately $610 million representing a book-to-bill ratio of approximately 1.2:1. Backlog as of June 30, 2008 was a record at approximately $2.4 billion and is up approximately 26 percent compared to June 30, 2007. * On July 28, 2008 the company completed its acquisition of Honeywell’s Consumables Solutions distribution business (HCS) for $1.05 billion which consisted of $901.4 million in cash consideration and six million shares of the company’s common stock. * The company raised its full-year 2008 financial guidance by $0.02 per diluted share to approximately $2.37 per diluted share, excluding the impact of HCS transaction related effects.

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