Triumph Group's 4th-quarter Profit, Sales Rise

WASHINGTON (AP) — Shares of Triumph Group Inc. rose Friday after the aircraft-parts maker said its fiscal fourth-quarter earnings and sales jumped, handily beating Wall Street expectations.

Its shares rose $2.39, or 5.8 percent, to $43.72 in morning trading Friday. The Wayne, Pa., company reported results Thursday after the market close.

Triumph's net income increased to $22.1 million, or $1.33 per share, up from $19.4 million, or $1.15 per share. Earnings from continuing operations rose to $23.8 million, or $1.43 per share, up from $21.3 million, or $1.26 per share. Sales fell 3 percent to $311.2 million.

Analysts were expecting a profit of $1.29 per share on revenue of $322.8 million, according to a survey by Thomson Reuters.

Quarterly sales in the aerospace-systems segment fell 3 percent to $249.8 million primarily driven by weak demand for business jets and lingering impact of Boeing Co.'s strike. Its aftermarket-services sales fell 5 percent to $62.1 million.

For the year, the company earned $93.1 million, or $5.61 per share, up from $67.3 million, or $3.84 per share, a year ago. Earnings from continuing operations rose to $97.8 million, or $5.90 per share, up from $75.7 million, or $4.32 per share.

Sales increased 8 percent to $1.24 billion.

Looking ahead, Triumph expects sales for fiscal 2010 between $1.28 billion and $1.38 billion and earnings from continuing operations of $5 per share. Analysts expect earnings of $5.81 per share on revenue of $1.41 billion.