BE Aerospace Profit Tumbles 33%, Doesn't See Rebound in Revenue until 2011 (BEAV)

10/27/2009-BE Aerospace (NASDAQ:BEAV) reported Q3 EPS of 36 cents, topping consensus estimates of 32 cents. Revenues in the quarter fell 26.9% year-over-year to $459.8 million, inline with consensus estimates. The company expects Q4 EPS of 31 cents, including a debt prepayment charge of 2 cents, and forecast EPS of $1.40 for 2010. Analysts, on average, were projecting Q4 EPS of 33 cents $1.44 for the full-year 2010.

Amin J. Khoury, Chairman and Chief Executive Officer of B/E Aerospace, Inc. said, "Based upon the uptick in demand for consumables orders in September and discussions with a number of our major customers relative to their planned spares purchases, combined with a marked pick-up in request for quote activity (RFQ), the company believes that the third quarter of 2009 represents the trough quarter for B/E Aerospace orders and backlog during this aerospace cycle downturn. However, we do not expect favorable quarterly earnings comparisons to the prior year periods to begin until the second quarter of 2010. And while the company expects relatively flat revenues and earnings in 2010 versus 2009, the company expects a substantial increase in both revenues and earnings in 2011."

Write to Chip Brian at cbrian@tradethetrend.com

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