Last $182.84 USD
Change Today +1.61 / 0.89%
Volume 186.2K
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As of 8:04 PM 10/24/14 All times are local (Market data is delayed by at least 15 minutes).

transdigm group inc (TDG) Key Developments

TransDigm Group Incorporated Announces Management Changes

TransDigm Group Incorporated announced the retirement of President and Chief Operating Officer, Raymond F. Laubenthal. To ensure a smooth transition, Mr. Laubenthal will stay on with TransDigm for a transition period expected to be through December 31, 2014. The Board intends to appoint Mr. Laubenthal as an additional member of the Board of Directors of the company following his retirement. The operational responsibilities for TransDigm's business groups previously held by Mr. Laubenthal will be divided between two executives. Robert Henderson will be the Chief Operating Officer - Airframe Group and Kevin Stein will be the Chief Operating Officer - Power Group. Robert Henderson, the new COO of the company's Airframe business group, has been a key member of the TransDigm management team for the last 20 years. Kevin Stein, the new COO of the Company's Power business group, joins TransDigm after five years as an Executive Vice President of Precision Castparts Corporation. Mr. Stein was most recently Executive Vice President of PCP and President of the $1.5 billion revenue multi-unit Aerospace Structural Casting and Ring Forging business segment.

TransDigm Group Incorporated, Special/Extraordinary Shareholders Meeting, Oct 02, 2014

TransDigm Group Incorporated, Special/Extraordinary Shareholders Meeting, Oct 02, 2014., at 09:00 Eastern Daylight. Location: 1301 East Ninth Street, 4 Floor. Agenda: To approve and adopt the company's 2014 stock option plan.

TransDigm Group Incorporated Announces Earnings Results for the Third Quarter and Thirty-Nine Week Period Ended June 28, 2014; Revises Earnings Guidance for the Fiscal Year 2014

TransDigm Group Incorporated announced earnings results for the third quarter and thirty-nine week period ended June 28, 2014. The company posted net sales for the quarter rose 25.0% to $610,582 from $488,636,000 in the comparable quarter a year ago. Organic net sales grew approximately 6.9%. The contribution from the acquisitions of Aerosonic, Airborne, Arkwin, Elektro-Metall (EME) and Whippany Actuation accounted for the balance of the increase in net sales. Income from operations was $239,980,000 compared to $176,724,000 a year ago. Income before income taxes was $20,877,000 compared to $114,255,000 a year ago. Net income for the quarter decreased 78.9% to $16,177,000, or $1.66 loss per share, compared with $76,655,000, or $0.71 income per share, in the comparable quarter a year ago. Earnings per share were reduced in both 2014 and 2013 by $1.94 per share and $0.70 per share respectively, representing dividend equivalent payments made during each quarter. EBITDA decreased 30.9% to $133,311,000 from $192,786,000 for the comparable quarter a year ago. EBITDA as defined for the period increased 18.8% to $275,584,000 compared with $231,885,000 in the quarter a year ago. Adjusted net income for the quarter rose 12.1% to $115,596, or $2.02 per share, from $103,119,000, or $1.89 per share, in the comparable quarter a year ago. The adjusted earnings per share increase of 6.9% was lower than the increase in adjusted net income of 12.1% as a result of higher weighted average shares of 57.2 million, up from 54.5 million in the prior year period. Net sales for the thirty-nine week period ended June 28, 2014 rose 25.0% to $1,730,665,000 from $1,384,663,000 in the comparable period last year. Organic net sales grew approximately 7.3%. The contribution from the acquisitions of Aerosonic, Airborne, Arkwin, EME and Whippany Actuation accounted for the balance of the increase in net sales. Income from operations was $669,100,000 compared to $543,682,000 a year ago. Income before income taxes was $286,855,000 compared to $323,962,000 a year ago. Net income decreased 11.9% to $192,655,000, or $1.26 per share, compared with $218,762,000 or $2.62 per share, in the comparable period last year. EBITDA was $612,151,000 compared to $563,236,000 a year ago. EBITDA as defined for the period was $782,109,000 compared with $652,053,000 in the quarter a year ago. Adjusted net income rose 13.1% to $317,055,000, or $5.55 per share, from $280,399,000 or $5.15 per share, in the comparable period a year ago. Net cash provided by operating activities was $349,529,000 compared to $267,035,000 a year ago. The company revised earnings guidance for the fiscal year 2014. For the fiscal year 2014, net sales are anticipated to be in the range of $2,344 million to $2,370 million previously in the range of $2,317 million to $2,367 million compared with $1,924 million in fiscal 2013. EBITDA as defined is anticipated to be in the range of $1,061 million to $1,073 million previously in the range of $1,046 million to $1,068 million compared with $900 million in fiscal 2013. Net income is anticipated to be in the range of $293 million to $299 million previously in the range of $380 million to $394 million compared with $303 million in fiscal 2013. Earnings per share are expected to be in the range of $2.96 to $3.06 per share previously in the range of $6.33 to $6.57 per share compared with $2.39 per share in fiscal 2013; and Adjusted earnings per share are expected to be in the range of $7.47 to $7.57 per share previously in the range of $7.46 to $7.70 per share compared with $6.90 per share in fiscal 2013. The company expects its effective tax rate for the full fiscal year to be around 33%.

TransDigm Group Mulls Acquisitions

TransDigm Group Incorporated (NYSE:TDG) is looking for acquisitions. Nick Howley, Chairman and Chief Executive Officer of TransDigm Group Incorporated said (on M&A pipeline), "The kind of stuff we typically see. Which is $40 million transactions to $300 million transactions. Occasionally we have bigger ones come by or come up opportunistically and we look at them but at least generally they haven't made sense on a value basis."

TransDigm Group Incorporated to Report Q3, 2014 Results on Aug 05, 2014

TransDigm Group Incorporated announced that they will report Q3, 2014 results at 9:00 AM, Eastern Standard Time on Aug 05, 2014

 

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