September 28, 2012
Triumph Group reports strong first quarter fiscal 2013 earnings
Triumph Group reported that net sales for the first quarter of fiscal year ending March 31, 2013, totaled $887.7m, a 5% increase from last year’s first quarter net sales of $845.1m. Organic sales growth for the quarter was 5%. Income from continuing operations for the first quarter of fiscal year 2013 was $76.3m, versus $50.9m for the first quarter of the prior fiscal year. The quarter’s results included approximately $0.5m pre-tax of integration costs related to the acquisition of Vought Aircraft Industries (now Triumph- Aerostructures- Vought Aircraft Division). In addition, the first quarter results included a charge of $1.2m pre-tax for early retirement incentives offered to certain Triumph Aerostructures employees. The prior fiscal year’s quarter included $0.5 million pre-tax of integration costs associated with the Vought acquisition. Excluding integration costs and the early retirement incentives, income from continuing operations for the quarter was $77.4m.