Triumph Group, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended Dec. 31, 2012; Provides Earnings Guidance for the Fourth Quarter and Full Year of Fiscal 2013
January 30, 2013 at 05:39 pm EST
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Triumph Group, Inc. reported earnings results for the third quarter and nine months ended Dec. 31, 2012. For the quarter operating income of the company increased 14% to $134.4 million. Income from continuing operations improved 14% to $75.2 million, resulting in earnings per share from continuing operations of $1.43 per diluted share versus $1.27 per diluted share for the prior-year quarter. Excluding the integration costs and the early retirement incentives, income from continuing operations was $76.7 million or $1.46 per diluted share. EBITDA, excluding the early retirement incentives for the quarter, increased 14% to $162.5 million, resulting in an EBITDA margin of 18.2%. Capital expenditure in the quarter was $28.5 million. Net debt at the end of the quarter was $1.1 billion, representing 36% of total capital.
For the nine months, the company reported capital expenditure of $89.7 million. The company generated $334.4 million of cash flow from operations before the company made $103.8 million of pension contributions to the Aerostructures defined benefit plans.
The company provided earnings guidance for the year 2013. For the period, the company projected sales for fiscal year 2013 to be approximately $3.65 billion and are raising full year earnings guidance to earnings per share from continuing operations of approximately $6.05 per diluted share, which includes the benefit of the retroactive reinstatement of the research and development tax credit and excludes integration costs and early retirement incentives. For the fiscal 2013, the company expect capital expenditure and investment in major programs for the year to be approximately $140 million to $150 million. Revenue for the fiscal year to be approximately $3.65 billion and raise full year EPS guidance to approximately $6.05.
For the fourth quarter of fiscal 2013, the company expect EPS to be approximately $1.53, which includes the benefit of the retroactive reinstatement of the R&D tax credit. Global effective tax rate for the quarter will be approximately 32.3%.
Triumph Group, Inc. designs, engineers, manufactures, repairs and overhauls a portfolio of aerospace and defense systems, components and structures. The Company serves the global aviation industry, including original equipment manufacturers and the full spectrum of military and commercial aircraft operators. The Company offers a variety of products and services to the aerospace industry. The Company operates through two segments. Triumph Systems & Support segment designs, develops and supports components, subsystems and systems; provides complex assemblies using external designs; and provides full life cycle solutions for commercial, regional and military aircraft. Triumph Interiors segment supplies commercial and regional manufacturers with aircraft interior systems, including air ducting and thermal acoustic insulation systems. Its Systems and Supports capabilities include hydraulic, mechanical, and electromechanical actuation.
Triumph Group, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended Dec. 31, 2012; Provides Earnings Guidance for the Fourth Quarter and Full Year of Fiscal 2013
TRIUMPH GROUP, INC. 
