TransDigm reports USD155m net income in FY Q4 2016

TransDigm Group Incorporated (NYSE: TDG) has reported net income of USD154.7 million, up 9.2 percent from USD141.7 million reported in the 4th quarter of fiscal year 2015, the company said.

Fourth quarter net sales of USD875.2 million were up 8.1 percent from $809.8 million. Fourth quarter earnings per share of USD2.77, up 10.8 percent from USD2.50.

Fourth quarter EBITDA was USD423.3 million, up 16.6 percent from USD363.0 million. Fourth quarter adjusted earnings per share were USD3.29, up 16.3 percent from USD2.83 in the fourth quarter 2015.
Fiscal 2016 net sales were USD3,171.4 million, up 17.2 percent from USD2,707.1 million. Net income in fiscal 2016 was USD586.4 million, up 31.1 percent from USD447.2 million. Fiscal 2016 earnings per share of USD10.39, up 32.5 percent from USD7.84.

EBITDA in fiscal year 2016 was USD1,495.2 million was up 21.2 percent from USD1,233.7 million. Fiscal 2016 adjusted earnings per share of USD11.49, up 27.5 percent from USD9.01.

On September 23, 2016, TransDigm completed the acquisition of Young & Franklin Inc. and its subsidiaries, including Tactair Fluid Controls Inc., for a total purchase price of USD260 million in cash.

Subsequent to the quarter, TransDigm completed an offering of USD1,150 million of term loans maturing in 2023. The proceeds were used partially to fund a special dividend of USD24.00 per share paid in November 2016 and to repurchase USD500 million of existing 7.50 percent senior subordinated notes due 2021, which will be completed by the end of November 2016.

TransDigm Group, through its wholly owned subsidiaries, is a designer, producer and supplier of engineered aircraft components.