Triumph Group Slips To Loss In Q3 - Quick Facts

(RTTNews) - Triumph Group Inc. (TGI) reported that its net loss for the third quarter of fiscal year 2015 was $39.8 million or $0.79 per share, compared to net income of $35.4 million or $0.67 per share, for the third quarter of the prior fiscal year.

Results for the third quarter of fiscal year 2015 included charges in the Aerostructures segment of $169.2 million pre-tax, or $2.16 per share.

In addition, operating results for the quarter included $3.5 million pre-tax, or ($0.04) per share, of transaction fees related to the assumption of the Gulfstream G650 and G280 wing programs.

Excluding these items, earnings per share for the third quarter of fiscal year 2015 were $1.42 per diluted share. Excluding non-recurring items, earnings per share for the prior fiscal year's third quarter were $0.99 per diluted share.

Net sales for the fiscal third quarter of 2015 were $917.4 million, up from fiscal third quarter 2014 net sales of $915.8 million. Organic sales for the quarter decreased seven percent primarily due to decreased production on the C-17 program and lower non-recurring revenue.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.48 per share and revenues of $972.45 million for the quarter. Analysts' estimates typically exclude special items.

The company now expects revenue for fiscal year 2015 to be approximately $3.9 billion and earnings per share for the fourth quarter fiscal 2015 to be approximately $1.70, excluding Red Oak facility transition costs and based on a weighted average share count of 50.6 million shares. Wall Street currently is looking for fiscal year 2015 earnings of $5.77 per share on annual revenues of $3.89 billion.