Home / Knowledge / News / Textiles / Triumph Group Q4 FY'14 sales up 3%
Triumph Group Q4 FY'14 sales up 3%
30
Oct '13
Triumph Group, Inc. reported that net sales for the second quarter of fiscal year ending March 31, 2014 totaled $967.3 million, a three percent increase from last year’s second quarter net sales of $938.2 million.

Organic sales for the quarter decreased four percent primarily due to production rate cuts on the 767 and 747-8 programs, a decrease in military sales, and a decline in non-recurring revenue.

Highlights:

- Net sales for second quarter fiscal year 2014 increased 3% to $967.3 million

- Operating income for second quarter fiscal year 2014 was $93.0 million, reflecting an operating margin of 10%

- Net income for second quarter fiscal year 2014 was $49.5 million, or $0.94 per diluted share, which included $5.8 million pre-tax ($0.07 per diluted share) of costs related to the Jefferson Street facility move. Excluding these costs, earnings per share was $1.01 per diluted share

- Year to date cash flow from operations before pension contributions of $45.8 million was $89.4 million

Net income for the second quarter of fiscal year 2014 was $49.5 million, or $0.94 per diluted share, versus $80.2 million, or $1.53 per diluted share, for the second quarter of the prior fiscal year. The quarter’s results included $43.7 million pre-tax ($28.2 million after tax or $0.53 per diluted share) of previously announced additional program costs primarily associated with the 747-8 program.

Also included in the quarter’s results was approximately $5.8 million pre-tax ($3.7 million after tax or $0.07 per diluted share) of costs related to the Jefferson Street facility move. These costs, which are primarily included in the Aerostructures segment, included $4.3 million of disruption and accelerated depreciation costs reflected in gross profit and $1.5 million of costs reflected in general and administrative expenses and interest.

The prior fiscal year’s quarter included approximately $1.4 million pre-tax ($0.9 million after tax) of integration costs associated with the acquisition of Vought Aircraft Industries (now Triumph Aerostructures-Vought Aircraft Division) and a charge of $2.0 million pre-tax ($1.2 million after tax) for early retirement incentives. Excluding the Jefferson Street move related costs, net income for the quarter was $53.2 million, or $1.01 per diluted share. The number of shares used in computing diluted earnings per share for the quarter was 52.8 million shares.

Click here to read full results

Triumph Group


Must ReadView All

Pic: Shutterstock

Textiles | On 21st Oct 2021

China's FDI inflow up by 19.6% in first 9 months of 2021

Foreign direct investment (FDI) into the Chinese mainland, in actual...

Pic: Ministry of Industry and Trade Web Portal

Textiles | On 21st Oct 2021

Vietnam, Singapore should optimise FTAs to boost cooperation: Minister

Vietnam and Singapore should further optimise free trade agreements...

Pic: Shutterstock

Textiles | On 21st Oct 2021

Demand from China pushes up wool prices in Australia

With Chinese top makers and traders pushing up the demand, large...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Multi-functional garments will be next big thing

Vandana Narang, National Institute of Fashion Technology

Vandana Narang
National Institute of Fashion Technology

Campus placements are low due to lockdowns

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchain is not a silver bullet for each and every problem in supply...

J Vargas,

J Vargas

With a vision to be the world's top tier textile manufacturer, Badjatex...

Shambhu Nath Jha,

Shambhu Nath Jha

Leading research and consulting firm Fact.MR recently launched a report on ...

Noemi Sanchez,

Noemi Sanchez

Established since 1846, Evlox is a specialised denim manufacturer with its ...

Seth Casden, Hologenix

Seth Casden
Hologenix

Hologenix is a material sciences company dedicated to developing products...

Sachin Pendharkar, Dieffenbacher India Pvt Ltd

Sachin Pendharkar
Dieffenbacher India Pvt Ltd

Germany-based Dieffenbacher Group is a producer of high-quality composites ...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by <b>Aprajita Toor</b> were born out of a deep desire to...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search