Editor's note: Our Pre-Memorial Day special examines military-related stocks and how to buy, sell or trade them. This feature includes a video by Gregg Greenberg, Defense-Stock Domination; and articles by Marc Courtenay One Priced to Buy; Robert Weinstein Bigger Guns, Bigger Profits; Richard Saintvilus Boeing's Offense Is Defense; Richard Suttmeier Sequester Survivors; and Richard Cox Bullish Earnings Support Defense.NEW YORK ( TheStreet) -- One of the stories not covered very much this year has been the strong earnings surprises seen by companies with significant exposure to the defense industry.
Precision's fiscal fourth-quarter profits came in at $414.2 million, equal to $2.82 per share. This is a marked increase from the $336.1 million ($2.30 per share) seen the previous year. Sales rose by 25% to $2.44 billion. Analysts, on average, were looking for earnings of $2.75 per share on revenue of $2.51 billion for the period ending March 31. Areas of strength were seen in the company's forged products segment -- with gains of 31% to $1.12 billion -- and in air-frame products sales, which saw improvements of 40%. Trading with a P/E of 21.6, PCP stock has seen gains of nearly 14% for the year to date, making the company a strong option for momentum strategies. Triumph Group (TGI - Get Report) Triumph Group is another strong earnings performer, with fiscal fourth-quarter adjusted earnings from continuing operations coming in at $1.68 per share. This creates a 7% improvement from the $1.57 per share seen last year and compares well to the $1.59 per share expected by the consensus. In fiscal year 2013, adjusted income from continuing operations rose to $6.21 per share. This is an increase of roughly 24% from the $5.01 seen in fiscal year 2012.