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Technology Stocks : BE Aerospace (BEAV) Breakout -- Ignore unavailable to you. Want to Upgrade?

To: Harry Abruzzese who wrote (66)	12/22/1997 6:15:00 PM
From: Harry Abruzzese	Read Replies (1) \| Respond to of 210

This press release was available this day (December 22,1997)and posted as an addition to my own and other previous comments about BEAV. --------------------------------------------------------------------- Monday December 22, 3:55 pm Eastern Time Company Press Release SOURCE: Standard & Poor's CreditWire BE Aerospace Outlook Revised to Positive by S&P; Ratings Affirmed NEW YORK, Dec. 22 /PRNewswire/ -- Standard & Poor's today revised BE Aerospace Inc.'s rating outlook to positive from stable. At the same time, Standard & Poor's affirmed its double-'B'-minus corporate credit and senior unsecured debt ratings, single-'B' subordinated debt rating, and double-'B'-plus bank loan rating on the company. The outlook revision is based on an improving financial profile, driven primarily by better profitability. The firm has benefited from favorable industry conditions, characterized by accelerating aircraft refurbishment and retrofit activity by airlines, a ramp-up in aircraft deliveries, and air carriers' strong financial results. For the nine months ended Nov. 29, 1997, sales increased 18%, orders 19%, and net income more than tripled, from low levels. BE Aerospace's ratings reflect the firm's position as the largest participant in the fragmented market for commercial aircraft cabin interior products. This is offset by risks associated with competitive conditions in the airline industry and historical fluctuations in the company's performance. The aircraft cabin interior industry has experienced considerable growth as a result of an expanding worldwide fleet, an increasing proportion of wide-body aircraft, and new product introductions. BE Aerospace's large installed base generates demand for recurring retrofit, refurbishment, and spare parts. This activity accounts for about two-thirds of revenues. The balance is derived from more variable new aircraft deliveries, which increased materially in 1997, with even larger gains expected in 1998-1999. The firm's financial performance was fairly weak in 1995 and most of 1996. However, sales, earnings, and backlog have been rising in 1997, with cash flow to debt currently at about 20% and debt to capital in the mid 50% level. OUTLOOK: POSITIVE. Continued gains in performance and favorable business fundamentals could warrant an upgrade in the short term, Standard & Poor's said. -- CreditWire SOURCE: Standard & Poor's CreditWire ---------------------------------------------------------------------- Based on our research, the aerospace industry is among the fastest, if not, the fastest growing indusries in the world going into 1998. Happy Holiday's Harry