Triumph Q2 Profit Tops View

(RTTNews) - Triumph Group, Inc. (TGI) Tuesday reported second-quarter net income of $49.5 million or $0.94 per share, compared to $80.2 million or $1.53 per share in the same period last year.

Adjusted income from continuing operations declined to $1.01 per share from $1.57 per share in the prior year quarter.

On average, 12 analysts polled by Thomson Reuters expected the company to earn $0.92 per share for the quarter. Analysts' estimates typically exclude special items.

Sales improved 3 percent to $967.35 million from $938.18 million last year, while 14 analysts expected revenues of $967.55 million.

Looking ahead to the fiscal year 2014, the company has reaffirmed its revenue guidance for fiscal year 2014 of $3.8 to $4.0 billion and now expect that earnings per share for fiscal year 2014 will be approximately $4.60.

Excluding the Jefferson Street move related costs, earnings per share for fiscal year 2014 are now expected to be approximately $5.25 per diluted share.

Earlier, the company expected its earnings to be in the range of $5.65 to $5.75 per share. Analysts currently expect the company to report full-year earnings of $5.44 per share on revenues of $3.91 billion.