29.01.2015 08:18:35
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B/E Aerospace Posts Loss In Q4, Revenue Rises - Quick Facts
(RTTNews) - B/E Aerospace, Inc. (BEAV), a manufacturer of aircraft cabin interior products, Thursday said fourth-quarter loss from continuing operations was $36.0 million or $0.35 per share, compared to a profit of $51.6 million or $0.50 per share last year.
On a GAAP basis, net loss was $36.0 million or $0.34 per share. Excluding business jet segment costs, adjusted net earnings were $59.8 million or $0.57 per share.
Operating earnings advanced to $98.2 million from $97.1 million in the prior year.
Fourth quarter adjusted EBITDA was $138.4 million, up 11.9 percent from last year.
Revenues increased 10.1 percent to $637.8 million from $579.5 million.
Looking ahead, the company expects first-quarter 2015 revenues to increase around 8 percent from last year, operating earnings to increase approximately 10 percent, and EBITDA to increase about 13 percent, and sees earnings per share of $0.72.
The company confirmed its full year 2015 financial guidance. Earnings per share are expected to be about $3.00 per share or around 20 percent higher than 2014 adjusted earnings per share.
Revenues are expected to be in the range of $2.8 billion to $2.9 billion reflecting approximately 10 percent growth over the prior year.
The company plans to initiate a $0.76 per share annual dividend in 2015, representing an approximate 25 percent payout ratio.
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