Triumph Group Q3 Profit Declines; Cuts Fy14 Outlook - Quick Facts

(RTTNews) - Triumph Group, Inc. (TGI) Tuesday reported third-quarter net income of $35.4 million or $0.67 per share, compared to $75.2 million or $1.43 per share in the same period last year.

Adjusted income from continuing operations declined to $0.99 per share from $1.46 per share in the prior year quarter.

On average, 15 analysts polled by Thomson Reuters expected the company to earn $1.19 per share for the quarter. Analysts' estimates typically exclude special items.

Sales improved 3 percent to $915.82 million from $890.57 million last year, while 16 analysts expected revenues of $966.56 million.

Looking ahead to the fiscal year 2014, the company expects revenue of $3.8 billion and now expect that earnings per share for fiscal year 2014 will be approximately $4.10.

Excluding the Jefferson Street move related costs, earnings per share for fiscal year 2014 are now expected to be approximately $4.75 per share.

Previously, the company expected revenue of $3.8 to $4.0 billion and earnings per share for fiscal of about $4.60. Excluding the Jefferson Street move related costs, earnings per share for fiscal year 2014 were previously expected to be about $5.25 per share. Analysts currently expect the company to report full-year earnings of $5.24 per share on revenues of $3.89 billion.