WELLINGTON, Fla. (AP) -- B/E Aerospace Inc. said Tuesday its third-quarter earnings fell 30 percent as sales by the maker of aircraft cabin interior products declined and expenses rose.
"Our global airline customers continue to suffer from high fuel costs, weak demand for passenger travel and significantly lower ticket prices, all of which have resulted in sharply lower yields," CEO Amin J. Khoury said in a statement.
Net earnings decreased to $36.1 million, or 36 per share, compared with $51.8 million, or 54 cents per share, in the year-earlier period.
Excluding one-time items, the company earned 38 cents per share.
Analysts polled by Thomson Reuters expected, on average, earnings per share of 32 cents. Such expectations typically exclude one-time items.
Sales fell to $459.8 million from $587.8 million. Analysts expected revenue of $458.1 million.
Selling, general and administrative expenses rose to $65.2 million from $58.6 million.
B/E Aerospace also issued fourth-quarter and full-year 2010 guidance below Wall Street expectations.
Shares closed up 8 cents per share Monday at $20.15.