TransDigm Group Incorporated (NYSE: TDG), a global designer, producer and supplier of highly engineered aircraft components, has reported results for the fourth quarter and fiscal year ended September 30, 2017, the company said.
Net sales for the quarter, which excludes USD 10.1 million of net sales from discontinued operations, rose 5.6%, or USD 48.7 million, to USD 923.9 million from USD 875.2 million in the comparable quarter a year ago. Organic net sales growth was 2.7%.
Net income from continuing operations for the quarter rose 19.1% to USD 184.1 million, or USD 2.21 per share, compared to USD 154.7 million, or USD 2.77 per share, in the comparable quarter a year ago. Earnings per share were reduced in the quarter by USD 1.15 per share representing dividend equivalent payments made during the quarter.
The increase in net income primarily reflects the increase in net sales described above, lower acquisition related costs and improvements to our operating margin resulting from the strength of our proprietary products and continued productivity efforts. This growth in net income was partially offset by higher interest expense.
Net loss from discontinued operations in the quarter was USD 30.7 million, or USD 0.56 loss per share.
TransDigm Group, through its wholly owned subsidiaries, is a global designer, producer and supplier of highly engineered aircraft components for use on nearly all commercial and military aircraft in service today. Major product offerings, substantially all of which are ultimately provided to end-users in the aerospace industry, include mechanical/electro-mechanical actuators and controls, ignition systems and engine technology, specialized pumps and valves, power conditioning devices.