This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Triumph Group Reports Record Fourth Quarter And Full Fiscal Year 2012 Results

Stocks in this article: TGI

Triumph Group, Inc. (NYSE: TGI) today reported that, for the fourth quarter ended March 31, 2012, net sales were $946.4 million, a three percent increase from last year’s fourth quarter net sales of $919.1 million. Organic sales growth for the quarter was three percent.

Income from continuing operations for the fourth quarter of fiscal year 2012 increased ninety-seven percent to $106.3 million, or $2.03 per diluted share, versus $54.0 million, or $1.05 per diluted share, for the fourth quarter of the prior fiscal year. The quarter’s results included approximately $2.6 million pre tax ($1.7 million after tax or $0.03 per diluted share) of integration costs related to the acquisition of Vought Aircraft Industries (now Triumph Aerostructures-Vought Aircraft Division). The prior fiscal year’s quarter included approximately $1.3 million pre tax ($0.8 million after tax) of integration costs associated with the Vought acquisition. The number of shares used in computing diluted earnings per share for the quarter was 52.3 million shares. The fourth quarter results were favorably impacted by a $40.4 million pre tax ($26.1 million after tax or $0.50 per diluted share) net curtailment gain resulting from amendments made to the Triumph Aerostructures pension plans which was reflected on the face of the income statement, and in the segment reporting, was included in Corporate. Excluding integration costs and the net curtailment gain, earnings per share from continuing operations for the quarter was $1.57 per diluted share.

Full Fiscal Year Highlights

For the fiscal year ended March 31, 2012, net sales totaled $3,407.9 million, a seventeen percent increase from fiscal year 2011 net sales of $2,905.3 billion. Organic sales growth for the fiscal year was seven percent.

Income from continuing operations for fiscal year 2012 increased eighty-five percent to $281.6 million, or $5.43 per diluted share, versus $152.4 million, or $3.21 per diluted share, for fiscal year 2011. The fiscal year’s results included approximately $6.3 million pre tax ($4.1 million after tax or $0.08 per diluted share) of integration costs related to the Vought acquisition as well as the net curtailment gain of $40.4 million pre tax ($0.50 per diluted share). The prior fiscal year included approximately $20.9 million pre tax ($15.7 million after tax) of integration costs associated with the Vought acquisition. Excluding these costs and the net curtailment gain, income from continuing operations for fiscal year 2012 was $259.7 million, or $5.01 per diluted share. The number of shares used in computing diluted earnings per share for fiscal year 2012 was 51.9 million shares.

1 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,570.21 +213.34 1.23%
S&P 500 2,033.96 +21.07 1.05%
NASDAQ 4,700.5110 +56.1990 1.21%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs