TRIUMPH GROUP INC NEW
SymbolTGI

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Triumph Group Reports Second Quarter Fiscal 2010 Results

2009-10-26 18:00 ET - News Release

  • Net sales for second quarter fiscal 2010 were $313.1 million
  • Income from continuing operations for second quarter fiscal 2010 was $20.7 million, or $1.25 per diluted share
  • Net income for second quarter fiscal 2010 was $19.5 million, or $1.17 per diluted share
  • Cash flow from operations for second quarter fiscal 2010 increased 25% to $40.8 million


WAYNE, Pa. -- (Business Wire)

Triumph Group, Inc. (NYSE:TGI) today reported that net sales for the second quarter of the fiscal year ending March 31, 2010 totaled $313.1 million, a three percent decrease from last year’s second quarter net sales of $323.4 million. Income from continuing operations for the second quarter of fiscal year 2010 was $20.7 million, or $1.25 per diluted share, versus $25.1 million, or $1.51 per diluted share, for the second quarter of the prior year. Net income for the second quarter of fiscal year 2010 was $19.5 million, or $1.17 per diluted share, versus $24.0 million, or $1.44 per diluted share, for the second quarter of the prior year. The number of shares used in computing diluted earnings per share for the second quarter of fiscal year 2010 was 16.6 million shares. During the quarter, the company generated $40.8 million of cash flow from operations. The results for the quarter included $1.5 million of incremental non-cash interest expense associated with the adoption of APB 14-1, which required a change in the accounting for convertible debt interest, and approximately $1.0 million of start up costs related to the Mexican facility. Prior year period results were also restated to reflect the adoption of APB 14-1, resulting in an incremental $1.6 million of interest expense over the previously reported amount.

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