CLEVELAND (AP) -- Aircraft part maker TransDigm Group Inc. said Thursday its fiscal fourth-quarter net income jumped 30 percent, boosted by contributions from recent acquisitions.
But the results were slightly lower than Wall Street expected and the company issued a weak guidance for the current fiscal year, sending its shares down in morning trading.
For the quarter ended Sept. 30, the Cleveland-based company earned $87.9 million, or $1.63 per share, up from $67.4 million, or $1.26 per share, in the same quarter last year. Excluding acquisition-related costs and other one-time items, the company posted adjusted net income of $1.72 per share for the recent quarter.
Revenue rose 35 percent to $462.6 million from $343 million a year ago.
Analysts, on average, expected earnings of $1.74 per share on $463.1 million in revenue, according to FactSet.
TransDigm said its sales at existing businesses rose about 6.7 percent, while the rest of the quarter's sales growth stemmed from acquisitions.
For the full fiscal year, the company posted a profit of $321.7 million, or $5.97 per share, up from $169.3 million, or $3.17 per share, in the previous fiscal year. Revenue jumped 41 percent to $1.17 billion from $1.21 billion.
TransDigm said it expects to post an adjusted fiscal 2013 profit of $6.54 to $6.98 per share, on $1.8 billion to $1.9 billion in revenue. Analysts, on average, expect earnings of $7.56 per share on $1.94 billion in revenue.
TransDigm shares fell $4.30, or 3.3 percent, to $127.09 in morning trading, after initially tumbling to $120.65. Over the past 52 weeks, the company's shares have traded between $90.40 and $152.62.
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