B/E Aerospace reports 2016 financial results

B/E Aerospace announced its full year and fourth quarter 2016 financial results. Full year 2016 revenues of US$2.9bn increased 7.4% as compared with the prior year. Full year 2016 bookings were approximately US$3.3bn and the book-to-bill ratio was 1.1 to 1. The Company’s 2016 full year and fourth quarter results include after-tax charges totaling approximately US$20.0m related to the pending Rockwell Collins merger transaction and restructuring charges. On a GAAP basis, full year 2016 operating earnings of US$506.6m increased 12.0% as compared with the prior year. Net earnings of US$311.1m increased 8.9% as compared with the prior year. As of December 31, 2016, backlog increased by approximately US$300m, as compared with December 31, 2015, to approximately US$3.5bn, while awarded but unbooked backlog was approximately US$5.6bn. Total backlog, both booked, and awarded but unbooked, was approximately US$9.1bn.