Return to Sender - Oversold Stocks and Other Message Board

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Strategies & Market Trends : Return to Sender - Oversold Stocks and Other

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To: Return to Sender who wrote (26)	11/22/1999 11:15:00 PM
From: Return to Sender	Read Replies (1) of 60

I expect BEAV to open substantially lower than the 8 3/16's it closed at today based on the following news released after the close tonight. I expect to be a buyer after the open: biz.yahoo.com Monday November 22, 6:19 pm Eastern Time B/E Aerospace sees 2000/2001 earnings drop WELLINGTON, Fla., Nov 22 (Reuters) - B/E Aerospace Inc. (NasdaqNM:BEAV - news) said Monday it expects earnings for fiscal 2000 and 2001 will be substantially lower than previously expected due to production problems in its seating products unit. Shares of B/E closed at 8-3/16 on the Nasdaq stock market. Although B/E said it expected to be profitable by the fourth quarter of 2000, it now said problems with its Seating Products Group to adversely impact results for the fourth quarter of 2000 and the first quarter of 2001. The company said it expects to post a loss for the fiscal 2000 third quarter, which ends Nov. 27, as a result of substantial nonrecurring charges. Wall Street analysts expect B/E to post a profit of 56 cents per share for the third quarter, according to First Call/Thomson Financial, which tracks earnings data. B/E also said it expects to report a $25 million cash charge in the third quarter of 2000, as well as a noncash charge of about $33 million as a result of exiting certain product and service offerings. For the fiscal 2000 year ending ending February, the company sees revenues between $715 and $720 million and net earnings of $1.60 to $1.70 per share, excluding charges. The company also said it expects production and engineering inefficiencies incurred in the third and fourth quarters of 2000 to negatively impact operations by about $24 million. For fiscal 2001, B/E said it expects revenues between $640 and $650 million and net earnings of about $1.25 per share. Consensus estimates are $2.08 per share for fiscal 2000 and $2.37 per share for 2001, according to First Call.

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