TransDigm Falls on Q2 Figures

TransDigm Group Incorporated (NYSE: TDG) watched its shares tumble Tuesday. The company, a leading global designer, producer and supplier of highly engineered aircraft components, today reported results for the second quarter ended March 30.

Net sales for the quarter increased 20.5%, or $327 million, to $1,919 million from $1,592 million in the comparable quarter a year ago. Organic sales growth as a percentage of net sales was 16.1%.

Net income for the quarter increased $100 million, or 32.9%, to $404 million from $304 million in the comparable quarter a year ago. The increase in net income primarily reflects the increase in net sales described above and the application of our value-driven operating strategy. The increase was partially offset by higher interest expense, one-time refinancing costs, income tax expense, and higher non-cash stock and deferred compensation expense.

Adjusted net income for the quarter increased 35.5% to $462 million, or $7.99 per share, from $341 million, or $5.98 per share, in the comparable quarter a year ago.

EBITDA for the quarter increased 21.4% to $919 million from $757 million for the comparable quarter a year ago. EBITDA As Defined for the quarter increased 25.0% to $1,021 million compared with $817 million in the comparable quarter a year ago. EBITDA As Defined as a percentage of net sales for the quarter was 53.2% compared with 51.3% in the comparable quarter a year ago.

TDG shares gave back $36.51, or 2.8%, to $1,264.00.

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