BE Aerospace Earnings: Gross Margins Up Five Quarters in a Row

BE Aerospace, Inc. (NASDAQ:BEAV) reported net income above Wall Street’s expectations for the first quarter. BE Aerospace is a manufacturer of cabin interior products for commercial aircraft and business jets and a distributor of aerospace fasteners and consumables.

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BE Aerospace Earnings Cheat Sheet for the First Quarter

Results: Net income for BE Aerospace, Inc. rose to $50.3 million (49 cents/share) vs. $33.8 million (34 cents/share) in the same quarter a year earlier. A rise of 48.8% from the year earlier quarter.

Revenue: Rose 29.5% to $600.2 million YoY.

Actual vs. Wall St. Expectations: BEAV beat the mean analyst estimate of 46 cents/share. Estimates ranged from 42 cents per share to 50 cents per share.

Quoting Management: Commenting on the company’s recent performance, Amin J. Khoury, Chairman and Chief Executive Officer of B/E Aerospace said, “Our first quarter results included record quarterly bookings, up 48 percent, revenues up 30 percent, operating earnings up 39 percent and earnings per share up 44 percent.”

Key Stats:

Last quarter marked the fifth consecutive quarter of gross margins expanding as the company’s gross margin expanded 0.9 percentage point to 37.1% from the year earlier quarter. Over that span, margins have grown on average 1.7 percentage points per quarter on a year-over-year basis.

Net income has increased 10.6% year over year on average across the last five quarters. The biggest gain came in the most recent quarter, when income climbed 48.8% from the year earlier quarter.

Over the last five quarters, revenue has increased 8.1% on average year over year. The biggest increase came in the most recent quarter, when revenue rose 29.5% from the year earlier quarter.

Competitors to Watch: TransDigm Group Inc. (NYSE:TDG), Ducommun Incorporated (NYSE:DCO), CPI Aerostructures, Inc. (AMEX:CVU), Breeze-Eastern Corporation (AMEX:BZC), Astronics Corporation (NASDAQ:ATRO), Goodrich Corporation (NYSE:GR), LMI Aerospace, Inc. (NASDAQ:LMIA), and Spirit AeroSystems Hldgs., Inc. (NYSE:SPR).

Today’s Performance: Shares of BEAV are trading at $37.26 as of April 25, 2011 at 7:03 AM ET, unchanged from the previous close.

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