Banner Aerospace Inc.

From the April 28, 1997 Washington Post

	'96 (in $ 000s)	% Change From '95
Revenue	287,880	29.5
Net Income	1,555	227.4
Rank Last Year: 44

Description:
Banner Aerospace is a major supplier of components and services to the global aerospace industry. The company has a small management office near Dulles, but operations are scattered across the United States, Europe and Asia. Business segments include: a hardware group that distributes aerospace fasteners and bearings; a rotables group that distributes flight data recorders, radar and navigation systems and a variety of other electric and hydraulic components; and an engines group that supplies and maintains engines and engine parts. Chantilly-based Fairchild Corp. owns about 60 percent of Banner's stock.

Business Resume: Contact Info -- 300 West Service Rd. Dulles, Va. 22021 703-478-5790 Main Business -- Aerospace parts distributor Founded -- 1990 Chairperson -- Jeffrey J. Steiner (CEO) President -- Jeffrey J. Steiner Employees -- 750 D.C.-Area Employees -- 14

Developments:
Banner's net income tripled in the fiscal year ended in March 1996, and nearly tripled again to $4.6 million over the following three quarters. The surge in profit reflected a rise in demand for new aircraft and the general resurgence of the aerospace industry. Higher sales at Harco Inc., based in El Segundo, Calif., a distributor of precision aerospace fasteners acquired last year from Fairchild, contributed to the improvement. Banner said it had yet to reap significant savings from efficiencies at a new distribution and warehousing center in Salt Lake City that opened last year.

In January Banner acquired PB Herndon Co., a St. Louis-based speciality fastener distributor with annual sales of about $20 million. In February it announced plans to purchase another Fairchild subsidiary, Fairchild Scandinavian Bellyloading Co.