KLX Inc. reported revenue, including fasteners, increased 16.3% to $431.5 million in the first fiscal quarter of 2015. Organic revenue grew 2%, including a 6.6% increase for aerospace products, offset by a 13.6% decline in energy products.

Q1 operating earnings totaled $55.9 million, with EBITDA at $80.7 million.

"I am pleased to report that we completed our first full fiscal quarter as an independent public company since separating from our former parent, B/E Aerospace, Inc.," stated CEO Amin Khoury. 

"The Company's results reflect solid performance by our Aerospace Solutions Group segment ("ASG"), which recorded year-over-year and sequential quarterly revenue growth.  Our Energy Services Group segment's ("ESG") financial results reflect the precipitous decline in the oil and gas industry. 

"However, we did make important progress in adding resources and assets to gain market share and maximize future revenue growth opportunities."

KLX expects to incur approximately $25 million of one-time costs related to branding, new IT system alignments and other related start-up expenses. 

Additionally, the company forecasts recurring annual operating costs, as a stand-alone company, to be approximately $25 million higher than the amount previously allocated under B/E Aerospace.