Beverly Hills 11/20/2009 1:48:44 AM
News / Business

TransDigm Sees 4Q Profit Rise

Finance World News Update by EQUITIES Magazine

Today TransDigm Group Inc reported a 9.5 percent rise in its fiscal fourth-quarter profit. The aircraft parts maker attributed the gain to wider margins, cost cutting, lower interest expenses and a lower effective tax rate.

However, the company also said it anticipates an earning decline as sharp as 29 percent in 2010.

"We go into fiscal 2010 with considerable market uncertainty," said CEO Nicholas Howley. "In differing degrees, most of our market segments are still experiencing headwinds. Though there appears to be some indication of stabilization, it is far from clear at this point."

Compared with $37.9 million, or 75 cents per share, a year ago, quarterly earnings rose to $41.6 million, or 82 cents per share, in the three months ended Sept. 30.

Shares of TransDigm dropped $1.17, or 2.8 percent, to $40.85 in midday trading.

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