TransDigm Group reports fiscal 2013 third quarter results

TransDigm Group Incorporated (TDG), a leading global designer, producer and supplier of highly engineered aircraft components, reported results for the third quarter ended June 29, 2013. Net sales for the quarter rose 5.8% to $488.6m from $461.7 million in the comparable quarter a year ago. Organic net sales growth of 4.5% was driven by an increase in sales over the prior year in commercial OEM and defense sales. The favorable contribution from the acquisitions of Arkwin, Aerosonic and Aero-Instruments accounted for the balance of the sales increase. Net income for the quarter decreased 15.2% to $76.7m compared with $90.4m in the comparable quarter a year ago. EBITDA for the quarter decreased 5.3% to $192.8m from $203.5m for the comparable quarter a year ago. EBITDA As Defined for the period increased 7.0% to $231.9m compared with $216.7m in the quarter a year ago. EBITDA As Defined as a percentage of net sales for the quarter was 47.5%.