Be Aerospace (BEAV) has reported 27.58 percent fall in profit for the quarter ended Dec. 31, 2016. The company has earned $60.40 million, or $0.60 a share in the quarter, compared with $83.40 million, or $0.81 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $80.40 million, or $0.80 a share compared with $78.60 million or $0.76 a share, a year ago. 

Revenue during the quarter grew 10.80 percent to $730.40 million from $659.20 million in the previous year period. Gross margin for the quarter contracted 252 basis points over the previous year period to 37.35 percent. Total expenses were 85.13 percent of quarterly revenues, up from 81.17 percent for the same period last year. That has resulted in a contraction of 396 basis points in operating margin to 14.87 percent.

Operating income for the quarter was $108.60 million, compared with $124.10 million in the previous year period.

However, the adjusted operating income for the quarter stood at $130.50 million compared to $124.10 million in the prior year period. At the same time, adjusted operating margin contracted 96 basis points in the quarter to 17.87 percent from 18.83 percent in the last year period.

Cash flow from investing activities was almost stable for the quarter at $83.40 million, when compared with the previous year period.

The company has spent $164.60 million cash to carry out financing activities during the year as against cash outgo of $359.80 million in the last year period.

Cash and cash equivalents stood at $202 million as on Dec. 31, 2016, up 31.08 percent or $47.90 million from $154.10 million on Dec. 31, 2015.

Working capital increases
Be Aerospace has recorded an increase in the working capital over the last year. It stood at $1,011.50 million as at Dec. 31, 2016, up 20.96 percent or $175.30 million from $836.20 million on Dec. 31, 2015. Current ratio was at 2.18 as on Dec. 31, 2016, up from 2.02 on Dec. 31, 2015.