TransDigm Group Reports Fiscal 2015 Fourth Quarter and Year-End Results
Cleveland, Ohio, November 12, 2015/PRNewswire/ -- 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, 2015.
Highlights for the fourth quarter and fiscal year include:
Fourth quarter net sales of $809.8 million, up 26.1% from $642.2 million;
Fourth quarter EBITDA As Defined of $363.0 million, up 24.7% from $291.1 million;
Fourth quarter adjusted earnings per share of $2.83, up 28.1% from $2.21;
Fiscal 2015 net sales of $2,707.1 million, up 14.1% from $2,372.9 million;
Fiscal 2015 EBITDA As Defined of $1,233.7 million, up 15.0% from $1,073.2 million;
Fiscal 2015 net income of $447.2 million, up 45.7% from $306.9 million;
Fiscal 2015 earnings per share of $7.84, up 148.1% from $3.16; and
Fiscal 2015 adjusted earnings per share of $9.01, up 16.1% from $7.76.
Net sales for the quarter rose 26.1%, or $167.6 million, to $809.8 million from $642.2 million in the comparable quarter a year ago. The acquisitions of the Telair Cargo Group (“Telair”), the aerospace business of Franke Aquarotter GmbH (“Franke”), the assets of the aerospace business of Pexco LLC (“Pexco”) and PneuDraulics, Inc. contributed approximately $139.1 million of the increase in net sales. Organic net sales growth accounted for the balance of the sales increase.
Net income for the quarter rose 24.0% to $141.7 million, or $2.50 per share, compared to $114.3 million, or $1.91 per share, in the comparable quarter a year ago. The increase in net income reflects the growth in net sales described above partially offset by higher interest expense and higher acquisition-related costs. Interest expense was higher as a result of an increase of approximately $950 million in outstanding borrowings primarily to fund the acquisitions of Pexco and Franke in May 2015. The current quarter included acquisition-related costs of $12.7 million net of tax, or $0.23 per share. The comparable quarter a year ago reflected acquisition-related costs of $4.4 million, net of tax, or $0.08 per share.
The following information was filed by Transdigm Group Inc (TDG) on Thursday, November 12, 2015 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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Ticker: TDG CIK: 1260221 Form Type:10-K Annual Report Accession Number: 0001260221-15-000013 Submitted to the SEC: Fri Nov 13 2015 1:26:56 PM EST Accepted by the SEC: Fri Nov 13 2015 Period: Wednesday, September 30, 2015 Industry: Aircraft Parts And Auxiliary Equipment