CLEVELAND (AP) _ TransDigm Group Inc. (TDG) on Tuesday reported fiscal second-quarter net income of $104 million.
On a per-share basis, the Cleveland-based company said it had net income of $1.79. Earnings, adjusted for stock option expense and costs related to mergers and acquisitions, came to $2.58 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.52 per share.
The aircraft components maker posted revenue of $1.19 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $1.18 billion.
TransDigm shares have dropped almost 3% since the beginning of the year. The stock has increased 71% in the last 12 months.
The Associated Press