Triumph Group 2QFY2011 results soar

Triumph Group revenue soars 146% - financial highlights for the three months ended 30-Sep-2010:

• Revenue: USD769.1 million, +146% year-on-year;
  • Aerostructures: USD578.6 million, +315%;
  • Aerospace Systems: USD123.5 million, +5%;
  • Aftermarket services: USD68.7 million, +20%;
• Operating profit*: USD86.1 million, +131.9%;
  • Aerostructures: USD70.0 million, +245%;
  • Aerospace Systems: USD17.1 million, -9.0%;
  • Aftermarket services: USD8.2 million, +135%;
• Profit from continuing operations: USD42.6 million, +106%;
• Operating cash flow: USD95.0 million, +133%;
• Backlog: USD4,040 million, +229%. [more]

*Includes USD1,283 and USD18,650 of acquisition-related expenses associated with the acquisition of Vought, respectively

Triumph Group: "As we enter the second half of our fiscal year, our backlog and balance sheet remain strong. Therefore, we are confident that we will continue to grow our revenue and earnings for the balance of the fiscal year and beyond. Based on current aircraft production rates and our current view of the purchase accounting impact resulting from the Vought acquisition, we now expect that earnings per share from continuing operations for fiscal year 2011 will be approximately USD6.60 per diluted share excluding transaction and integration costs and based on a weighted average share count of 23.5 million shares," Richard Ill, Chairman and CEO. Source: Triumph Group, 03-Nov-2010.