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TransDigm Group Reports Fiscal Fourth Quarter and Year-End Results
Cleveland, Ohio, November 15, 2012/PRNewswire via COMTEX/ TransDigm Group Incorporated (NYSE: TDG), a leading global designer, producer and supplier of highly engineered aircraft components, today reported results for the fourth quarter and fiscal year ended September 30, 2012.
Highlights for the quarter and fiscal year include:
|•||Fourth quarter net sales of $462.6 million, up 34.9% from $343.0 million;|
|•||Fourth quarter EBITDA As Defined of $215.1 million, up 25.1% from $171.9 million;|
|•||Fiscal 2012 net sales of $1,700.2 million, up 41.0% from $1,206.0 million;|
|•||Fiscal 2012 net income from continuing operations of $325.0 million, up 113.5% from $152.2 million;|
|•||Fiscal 2012 earnings per share of $5.97, up 88.0% from $3.17;|
|•||Fiscal 2012 EBITDA As Defined of $809.0 million, up 37.2% from $589.9 million; and|
|•||Fiscal 2012 adjusted earnings per share of $6.67, up 48.9% from $4.48.|
Net sales for the quarter rose 34.9% to $462.6 million from $343.0 million in the comparable quarter a year ago. Organic net sales grew approximately 6.7%. The favorable contribution from the acquisitions of Schneller, Harco, AmSafe and Aero-Instruments accounted for the balance of the sales increase.
Net income from continuing operations for the quarter rose 36.6% to $87.9 million, or $1.63 per share, compared to $64.3 million, or $1.20 per share, in the comparable quarter a year ago. The increase in net income primarily reflects the growth in net sales described above and lower acquisition-related costs partially offset by a higher effective tax rate and higher interest expense. The current quarter included acquisition-related and non-cash compensation costs of $5.1 million, net of tax, or $0.09 per share. The comparable quarter a year ago reflected acquisition-related, refinancing and non-cash compensation costs of $12.9 million, net of tax, or $0.25 per share.
Net income from discontinued operations in the comparable quarter a year ago was $3.1 million, or $0.06 per share.
The following information was filed by Transdigm Group Inc (TDG) on Thursday, November 15, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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