Exhibit 99.1

TransDigm Group Reports Fiscal 2020 First Quarter Results

Cleveland, Ohio, February 4, 2020/PRNewswire/ -- TransDigm Group Incorporated (NYSE: TDG), a leading global designer, producer and supplier of highly engineered aircraft components, today reported results for the first quarter ended December 28, 2019.
First quarter highlights include:
Net sales of $1,465 million, up 47.5% from $993 million;
Net income from continuing operations of $233 million, up 18.9% from $196 million;
Earnings per share from continuing operations of $0.83, down 72.8% from $3.05;
EBITDA As Defined of $681 million, up 39.8% from $487 million;
Adjusted earnings per share of $4.93, up 28.1% from $3.85; and
Reaffirmation of our previously stated guidance for fiscal 2020 Sales, EBITDA As Defined and Adjusted Earnings Per Share.
Net sales for the quarter rose 47.5%, or $472 million, to $1,465 million from $993 million in the comparable quarter a year ago. Organic sales growth was 8.7%. Acquisition sales contributed $385 million, all of which are attributable to Esterline.
Net income from continuing operations for the quarter increased 18.9% to $233 million compared to $196 million in the comparable quarter a year ago. The increase in net income from continuing operations primarily reflects the increase in net sales described above, offset partially by higher operating costs and amortization expense attributable to Esterline, higher interest expense and one-time refinancing costs.
GAAP earnings per share were reduced in the first quarter of fiscal 2020 and 2019 by $3.22 per share and $0.43 per share, respectively, as a result of dividend equivalent payments made during each quarter. As a reminder, GAAP earnings per share are reduced when TransDigm makes dividend equivalent payments pursuant to the Company's stock option plans. These dividend equivalent payments are made during the Company's first fiscal quarter each year and also upon payment of any special dividends.
Net income from discontinued operations for the quarter was $71 million, or $1.24 per share. These amounts are attributable to the Souriau-Sunbank Connection Technologies business, which was sold to Eaton Corporation plc (NYSE:ETN) in a transaction valued at approximately $920 million. There were no discontinued operations in the comparable quarter a year ago.
Adjusted net income for the quarter increased 31.0% to $283 million, or $4.93 per share, from $216 million, or $3.85 per share, in the comparable quarter a year ago.
EBITDA for the quarter increased 33.5% to $610 million from $457 million for the comparable quarter a year ago. EBITDA As Defined for the period increased 39.8% to $681 million compared with $487 million in the comparable quarter a year ago. EBITDA As Defined as a percentage of net sales for the quarter was 46.5%.
We are pleased with our first quarter operating results and the strong start to our fiscal year," stated Kevin Stein, TransDigm Group's President and Chief Executive Officer. "Our consolidated business performed well


The following information was filed by Transdigm Group Inc (TDG) on Tuesday, February 4, 2020 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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