B/E Aerospace, Inc. (NASDAQ: BEAV) is an S&P 400 and NASDAQ listed manufacturer of aircraft cabin parts, including passenger and crew seats, oxygen delivery systems, kitchens and lavatories for commercial airliners. Based in Wellington, Florida,[4] the company was capitalized as a $3.14 billion corporation as of 2010.

BE Aerospace, Inc. is manufacturer of cabin interior products for commercial aircraft and business jets and a distributor of aerospace fasteners and consumables. The Company sells its products directly to virtually all of the major airlines and aerospace manufacturers. In addition, through its consumables management segment, it sells consumable parts to market participants in the defense industry. The Company’s product categories include a line of aerospace fasteners and consumables, consisting of over 275,000 stock keeping units (SKUs) serving the aerospace, commercial aircraft, business jet and military and defense industries; commercial aircraft seats, including a line of super first class, first class, business class, tourist class and regional aircraft seats; a line of aircraft food and beverage preparation and storage equipment, including coffeemakers, water boilers, beverage containers, refrigerators, freezers, chillers and microwave, high-heat convection and steam ovens; both chemical and gaseous aircraft oxygen storage, distribution and delivery systems, protective breathing equipment and lighting products, and business jet and general aviation interior products, including a line of executive aircraft seats, direct and indirect overhead lighting systems, passenger and crew oxygen systems, air valve systems, high-end furniture and cabinetry. The Company also provides aircraft cabin interior reconfiguration and passenger-to-freighter conversion engineering services and component kits. The Company operates in three reportable segments: consumables management, commercial aircraft and business jet.
Consumables Management Segment
The Company is a distributor and value added service provider of aerospace fasteners and consumables. The Company offers a line of aerospace hardware and inventory management services worldwide. With over 275,000 SKUs and next-day service, the Company serves as a distributor for almost every major aerospace fastener manufacturer. Its service offerings include inventory management and replenishment, electronic data interchange, special packaging and bar-coding, parts kitting, quality assurance testing and purchasing assistance.
Commercial Aircraft Segment
The Company is a manufacturer of aircraft seats, offering a selection of first class, business class, tourist class and regional aircraft seats. A typical seat manufactured and sold by the Company includes the seat frame, cushions, armrests, tray table and a variety of optional features, such as adjustable lumbar supports, footrests, reading lights, head/neck supports, and other comfort amenities. The Company also integrates a variety of in-flight entertainment equipment into its seats, which is supplied to the Company by its customers or third party suppliers. Its line of first class sleeper seats incorporates full electric actuation, an electric ottoman, privacy panels and sidewall-mounted tables. The business class seats include electrical or mechanical actuation, PC power ports, iPod connectivity, telephones, leg rests, adjustable lumbar cushions, four-way adjustable headrests and fiber optic reading lights. It is a manufacturer of tourist class seats and regional aircraft seats. The Company is manufacturer of oxygen storage, distribution and delivery systems for both commercial and business jet aircraft. The Company is manufacturer of aircraft coffee and beverage makers. The Company manufactures of a line of specialized ovens, including high efficiency convection ovens, and steam ovens and warming ovens. Its DS Steam Oven uses a method of preparing in-flight food by maintaining constant temperature and moisture in the food. The Company DS Steam Oven addresses the airlines' need to provide a range of food offerings than can be prepared by convection ovens.
The Company designs and supplies commercial aircraft refrigeration equipment. It manufactures self-contained wine and beverage chillers, refrigerators/freezers and galley air chilling systems. Its A350 galley system is designed to accommodate the aircraft’s flex zones, which allows the airlines to select from ranging galley configurations. A modular approach to the design allows the airlines to select galley positions and configurations for their specific operational needs, while minimizing total aircraft system weight. The Company also provides engineering, design, integration, installation and certification services for commercial aircraft passenger cabin interiors. It also offer to its customers in-house capabilities to design, manage, integrate, test and certify reconfigurations and modifications for commercial aircraft and to manufacture related products, including engineering kits and interface components. It designs and manufactures of crew rest compartments.
Business Jet Segment
The Company manufactures a product line of furnishings for business jets. Its products include a line of business jet seating and sofa products, including electric fully berthing lie flat seats, direct and indirect lighting, air valves and oxygen delivery systems, as well as sidewalls, bulkheads, credenzas, closets, galley structures, lavatories and tables. The Company provides complete interior packages for business jets and executive aircraft (i.e. head-of-state) interiors, including design services, interior components and program management services. The Company is a supplier of seating products and direct and indirect lighting systems for most business jet manufacturers.
The Company competes with Groupe Zodiac S.A., Keiper Recaro GmbH, JAMCO and Premium Aircraft Interiors Group.

In fiscal year 1998, BEA's IFE group had revenues of $81 million. It had installed more than 34,000 video screens to date. These were mostly from its BE2000 and BE2000M product lines. By this time, the BE2000 series was the world's most widely used non-interactive IFE system. The more advanced BE2000M units were achieving some success. United Airlines raised its initial order for the more advanced system to a value of $73 million.
Asian Crisis; Decline and Sell-Off
While United was ordering more and more IFE systems, Delta Airlines and US Airways were contracting BEA to produce premium seating. Nevertheless, BEA could not sustain its pace of rapid growth in the face of the Asian financial crisis, cutbacks in Boeing's widebody program, and its own bank debt. Seven of BEA's manufacturing sites were also closed and 500 of its employees laid off.
Although BEA expected some revenue growth to continue, the company sold Sextant Avionique 51 percent of its IFE business, forming Sextant In-Flight Systems, to be headquartered at existing facilities in Irving, California. (After an initial cash payment of $62 million, the final price of the unit was pegged to operating results.) Sextant Avionique's spectrum of products included flight control and navigation systems, computers, and instruments. As a supplier of avionics (flight instrumentation and controls) and a competitor of Rockwell, which had also begun offering IFE systems, Sextant Avionique seemed a well-suited partner to elevate BEA's reputation for reliability. Guy Baruchel was tapped to head the new joint venture.
United Airlines remained a bright blip on BEA's radar. In February 1999, UAL announced it was ordering $40 million worth of BE2000 IFE systems for the coach class of 36 Boeing 747s. United already had 7,500 BE2000 units in operation; the BE2000M series was installed in all sections of its Boeing 767s.
Such good news may have explained the company's top executives again buying stock in their company. They had previously sold off significant amounts in August 1997. With the world airline fleet growing and new regulations requiring stronger seats, their optimism seemed well placed. BEA spent $354 million on four major acquisitions in fiscal 1999. The company had a backlog worth $640 million in February 1999.
BE Aerospace (USA), Inc.; BE Aerospace Netherlands BV; Royal Inventum, BV; BE Aerospace (Sales & Services) BV; BE Aerospace (U.K.); Holdings Limited; BE Aerospace (UK) Limited; AFI Holdings Ltd.; Fort Hill Aircraft Ltd.; CF Taylor (B/E) UK Limited; CF Taylor (Wales) Ltd.; BE Aerospace Services, Inc.; BE Advanced Thermal Technologies, Inc.; Acurex Corporation; BE Aerospace International Ltd.; Nordskog Industries, Inc.; Burns Aerospace (SARL); Puritan-Bennett Aero Systems Corporation; Sextant In-Flight Systems, LLC (49%); BE Intellectual Property, Inc.; Aerospace Interiors, Inc.; Aerospace Lighting Corporation; SMR Aerospace, Inc.; Flight Structures, Inc.; BE Aerospace Canada, Inc.; BE Aerospace (Canada) Company; BE Aerospace (France) SARL.
Principal Divisions: Seating Products Group; Flight Structures and Integration Group; Interior Systems Group; General Aviation and VIP Products Group; Services Group.

In fiscal year 1998, BEA's IFE group had revenues of $81 million. It had installed more than 34,000 video screens to date. These were mostly from its BE2000 and BE2000M product lines. By this time, the BE2000 series was the world's most widely used non-interactive IFE system. The more advanced BE2000M units were achieving some success. United Airlines raised its initial order for the more advanced system to a value of $73 million.
Asian Crisis; Decline and Sell-Off
While United was ordering more and more IFE systems, Delta Airlines and US Airways were contracting BEA to produce premium seating. Nevertheless, BEA could not sustain its pace of rapid growth in the face of the Asian financial crisis, cutbacks in Boeing's widebody program, and its own bank debt. Seven of BEA's manufacturing sites were also closed and 500 of its employees laid off.
Although BEA expected some revenue growth to continue, the company sold Sextant Avionique 51 percent of its IFE business, forming Sextant In-Flight Systems, to be headquartered at existing facilities in Irving, California. (After an initial cash payment of $62 million, the final price of the unit was pegged to operating results.) Sextant Avionique's spectrum of products included flight control and navigation systems, computers, and instruments. As a supplier of avionics (flight instrumentation and controls) and a competitor of Rockwell, which had also begun offering IFE systems, Sextant Avionique seemed a well-suited partner to elevate BEA's reputation for reliability. Guy Baruchel was tapped to head the new joint venture.
United Airlines remained a bright blip on BEA's radar. In February 1999, UAL announced it was ordering $40 million worth of BE2000 IFE systems for the coach class of 36 Boeing 747s. United already had 7,500 BE2000 units in operation; the BE2000M series was installed in all sections of its Boeing 767s.
Such good news may have explained the company's top executives again buying stock in their company. They had previously sold off significant amounts in August 1997. With the world airline fleet growing and new regulations requiring stronger seats, their optimism seemed well placed. BEA spent $354 million on four major acquisitions in fiscal 1999. The company had a backlog worth $640 million in February 1999.
BE Aerospace (USA), Inc.; BE Aerospace Netherlands BV; Royal Inventum, BV; BE Aerospace (Sales & Services) BV; BE Aerospace (U.K.); Holdings Limited; BE Aerospace (UK) Limited; AFI Holdings Ltd.; Fort Hill Aircraft Ltd.; CF Taylor (B/E) UK Limited; CF Taylor (Wales) Ltd.; BE Aerospace Services, Inc.; BE Advanced Thermal Technologies, Inc.; Acurex Corporation; BE Aerospace International Ltd.; Nordskog Industries, Inc.; Burns Aerospace (SARL); Puritan-Bennett Aero Systems Corporation; Sextant In-Flight Systems, LLC (49%); BE Intellectual Property, Inc.; Aerospace Interiors, Inc.; Aerospace Lighting Corporation; SMR Aerospace, Inc.; Flight Structures, Inc.; BE Aerospace Canada, Inc.; BE Aerospace (Canada) Company; BE Aerospace (France) SARL.
Principal Divisions: Seating Products Group; Flight Structures and Integration Group; Interior Systems Group; General Aviation and VIP Products Group; Services Group.


OVERALL
Beta: 1.99
Market Cap (Mil.): $3,978.76
Shares Outstanding (Mil.): 103.10
Annual Dividend: --
Yield (%): --
FINANCIALS
BEAV.O Industry Sector
P/E (TTM): 24.45 23.16 17.05
EPS (TTM): 14.20 -- --
ROI: 5.73 4.93 3.26
ROE: 10.14 20.00 5.84

Statistics:
Public Company
Incorporated: 1987 as Bach Engineering
Employees: 5600
Sales: $701.3 million (1999)
Stock Exchanges: NASDAQ
Ticker Symbol: BEAV
NAIC: 336411 Aircraft Conversions; 421860 Aircraft Equipment & Supplies Wholesaling; 336321 Aircraft Lighting Fixtures Manufacturing; 336360 Aircraft Seats Manufacturing

Name Age Since Current Position
Khoury, Amin 72 2005 Independent Chairman of the Board, Chief Executive Officer
Lieberherr, Werner 50 2010 President, Chief Operating Officer
McCaffrey, Thomas 56 2010 Chief Financial Officer, Senior Vice President
Swisher, Stephen 52 1999 Vice President - Finance, Controller
Patch, Ryan 50 2009 Vice President - Law, General Counsel, Secretary
Exton, Wayne 47 2006 Vice President, General Manager - Business Jet Segment
Cromie, Sean 44 2011 Vice President, General Manager - Commercial Aircraft Segment
Sharpe, Richard 55 2010 Vice President, General Manager - Consumables Management Segment
Khoury, Robert 68 2005 Independent Director
Cowart, Jim 59 1989 Independent Director
Hamermesh, Richard 63 1987 Independent Director
Schofield, Jonathan 70 2001 Independent Director
Chadwell, Charles 70 2007 Independent Director
Wegner, Arthur 73 2007 Independent Director

Address:
1400 Corporate Center Way
Wellington, Florida 33414
U.S.A.
 
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