B/E Aerospace's Q1 Profit Falls

B/E Aerospace, the world's biggest supplier of aircraft interior products, posted a lower first-quarter profit on Monday, as the global economic slowdown hit its airline customers.

The company, which fits out commercial and business jets with oxygen masks, food carts and other equipment, reported a quarterly net profit of USD$37.9 million or 38 cents per share, down from USD$48.5 million or 53 cents per share in the same period a year ago.

Excluding acquisition, integration and transition (AIT) costs related to the company's acquisition of Honeywell International's Consumables Solutions unit, profit was 41 cents per share.

B/E Aerospace said it expects its 2009 earnings to be USD$1.50 per share, excluding AIT costs of 10 cents per share, while it expects 2009 revenue to fall about 23 percent from 2008 pro forma revenue to USD$1.9 billion.