Triumph Group Inc. (TGI) Wednesday reported net income of $65 million or $1.32 per share for the fourth quarter of fiscal 2014. This compares with net income of $106 million or $2.16 per share last year.
Excluding items, adjusted earnings from continuing operations for the quarter were $88.8 million or $1.68 per share.
Revenues for the quarter were up 4% at $986 million, compared to $946 million a year ago.
Analysts polled by Thomson Reuters estimated earnings of $1.59 per share on revenues of $943.71 million for the quarter. Analysts' estimates typically exclude special items.
The company said its successful closure of the acquisitions of Embee Inc. and Goodrich Pump and Engine Control Systems positions it well for future growth.
Looking ahead to fiscal year 2014, the company expects earnings from continuing operations of $5.65 to $5.75 per share on revenues of $3.8 to $4 billion. Excluding the Jefferson Street related costs, earnings are estimated to be in the range of $6.30 to $6.40 per share.
Analysts currently expect earnings of $6.82 per share on revenues of $4.04 billion for the year.
Berwyn, Pennsylvania-based Triumph Group engages in the manufacture of aerostructures, aircraft components,and systems.
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