B/E Aerospace, Inc. (NASDAQ: BEAV) has announced full year 2016 revenues of USD 2.9bn, an increase of 7.4% as compared with the prior year, the company said.
On a GAAP basis, full year 2016 operating earnings of USD 506.6m increased 12.0% as compared with the prior year. Net earnings and net earnings per diluted share of USD 311.1m and USD 3.08 per share increased 8.9% and 12.8%, respectively, as compared with the prior year.
Exclusive of the aforementioned costs, operating earnings were USD 528.5m, or 18.0% of sales, net earnings and net earnings per diluted share were USD 331.1m and USD 3.28 per share, and free cash flow from operations was USD 277.0m or 83.7% of adjusted net earnings.
Fourth quarter 2016 revenues of USD 730.4m increased 10.8% as compared with the prior year period. Bookings during the fourth quarter of 2016 were approximately USD 900m and the book-to-bill ratio was approximately 1.2 to 1.
On a GAAP basis, operating earnings were USD 108.6m, net earnings were USD 60.4m and net earnings per diluted share were USD 0.60 per share, all of which were impacted by the pending Rockwell Collins transaction and restructuring charges.
Exclusive of the aforementioned transaction and restructuring related costs, operating earnings were USD 130.5m and earnings per diluted share was USD 0.80.
Aircraft cabin interior products manufacturer B/E Aerospace designs, develops, and manufactures a broad range of products for both commercial aircraft and business jets. ITs manufactured products include aircraft cabin seating, lighting systems, oxygen systems, food and beverage preparation and storage equipment, galley systems, and modular lavatory systems. The company also provides cabin interior reconfiguration, program management and certification services. B/E Aerospace sells and supports its products through its own global direct sales and product support organization.