TransDigm to Update Business Outlook at Investor Conference Today
CLEVELAND, June 29, 2011 /PRNewswire/ -- In conjunction with our annual investor conference today, TransDigm Group Incorporated (NYSE: TDG), a leading global designer, producer and supplier of highly engineered aircraft components, is updating its fiscal 2011 outlook for Revenues and EBITDA As Defined.
The revised guidance, which is based upon current market conditions and assumes no additional acquisitions or divestitures, is as follows:
- Revenues from continuing operations are anticipated to be in the range of $1,179 million to $1,189 million (previously in the range of $1,172 million to $1,192 million, which included approximately $11 million from the distribution business now included as part of discontinued operations) compared with $828 million in fiscal 2010.
- EBITDA As Defined is anticipated to be in the range of $574 million to $580 million (previously in the range of $562 million to $572 million) compared with $412 million in fiscal 2010.
About TransDigm Group
TransDigm Group, through its wholly-owned subsidiaries, is a leading global designer, producer and supplier of highly engineered aircraft components for use on nearly all commercial and military aircraft in service today. Major product offerings, substantially all of which are ultimately provided to end-users in the aerospace industry, include mechanical/electro-mechanical actuators and controls, ignition systems and engine technology, specialized pumps and valves, power conditioning devices, specialized AC/DC electric motors and generators, aircraft audio systems, specialized cockpit displays, engineered latching and locking devices, specialized lavatory components, engineered connectors and elastomers, rods and locking devices, NiCad batteries/chargers, and lighting and control technology.
Non-GAAP Supplemental Information
EBITDA As Defined is a non-GAAP financial measure. TransDigm Group defines EBITDA as earnings before interest, taxes, depreciation and amortization and defines EBITDA As Defined as EBITDA plus certain non-operating items, effects from the sale on businesses, refinancing costs, acquisition-related costs, transaction-related costs and non-cash charges incurred in connection with certain employee benefit plans.
EBITDA As Defined is not a measurement of financial performance under GAAP and should not be considered as an alternative to net income, operating income, earnings per share, cash flows from operating activities or other measures of performance determined in accordance with GAAP. In addition, TransDigm Group's calculation of EBITDA as defined may not be comparable to the calculation of similarly titled measures reported by other companies.
Forward-Looking Statements
The statements in this press release regarding our guidance for fiscal 2011 are forward-looking statements under the provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve risks and uncertainties which could affect TransDigm Group's actual results and could cause its actual results to differ materially from those expressed in the forward-looking statements made by, or on behalf of, TransDigm Group. These risks and uncertainties include, but are not limited to: the sensitivity of our business to the number of flight hours that our customers' planes spend aloft and our customers' profitability, both of which are affected by general economic conditions; future terrorist attacks; our reliance on certain customers; the U.S. defense budget and risks associated with being a government supplier; failure to maintain government or industry approvals; failure to complete or successfully integrate acquisitions; our substantial indebtedness; potential environmental liabilities; and other factors. Further information regarding the important factors that could cause actual results to differ materially from projected results can be found in TransDigm Group's Annual Report on Form 10-K and other reports that TransDigm Group or its subsidiaries have filed with the Securities and Exchange Commission. Except as required by law, TransDigm Group undertakes no obligation to revise or update the forward-looking information contained in this press release.
Contact: |
Liza Sabol |
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Investor Relations |
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(216) 706-2945 |
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SOURCE TransDigm Group
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