TransDigm Group Reports Fiscal Fourth Quarter and Year-End Results

      TransDigm Group Reports Fiscal Fourth Quarter and Year-End Results

PR Newswire

CLEVELAND, Nov. 15, 2012

CLEVELAND, Nov. 15, 2012 /PRNewswire/ -- TransDigm Group Incorporated (NYSE:
TDG), a leading global designer, producer and supplier of highly engineered
aircraft components, today reported results for the fourth quarter and fiscal
year ended September 30, 2012.

Highlights for the quarter and fiscal year include:

  oFourth quarter net sales of $462.6 million, up 34.9% from $343.0 million;
  oFourth quarter EBITDA As Defined of $215.1 million, up 25.1% from $171.9
    million;
  oFiscal 2012 net sales of $1,700.2 million, up 41.0% from $1,206.0 million;
  oFiscal 2012 net income from continuing operations of $325.0 million, up
    113.5% from $152.2 million;
  oFiscal 2012 earnings per share of $5.97, up 88.0% from $3.17;
  oFiscal 2012 EBITDA As Defined of $809.0 million, up 37.2% from $589.9
    million; and
  oFiscal 2012 adjusted earnings per share of $6.67, up 48.9% from $4.48.

Net sales for the quarter rose 34.9% to $462.6 million from $343.0 million in
the comparable quarter a year ago. Organic net sales grew approximately
6.7%. The favorable contribution from the acquisitions of Schneller, Harco,
AmSafe and Aero-Instruments accounted for the balance of the sales increase.

Net income from continuing operations for the quarter rose 36.6% to $87.9
million, or $1.63 per share, compared to $64.3 million, or $1.20 per share, in
the comparable quarter a year ago. The increase in net income primarily
reflects the growth in net sales described above and lower acquisition-related
costs partially offset by a higher effective tax rate and higher interest
expense. The current quarter included acquisition-related and non-cash
compensation costs of $5.1 million, net of tax, or $0.09 per share. The
comparable quarter a year ago reflected acquisition-related, refinancing and
non-cash compensation costs of $12.9 million, net of tax, or $0.25 per share.

Net income from discontinued operations in the comparable quarter a year ago
was $3.1 million, or $0.06 per share.

Adjusted net income for the quarter rose 20.4% to $93.0 million, or $1.72 per
share, from $77.2 million, or $1.45 per share, in the comparable quarter a
year ago.

EBITDA for the quarter increased 30.7% to $209.0 million from $160.0 million
for the comparable quarter a year ago. EBITDA As Defined for the period
increased 25.1% to $215.1 million compared with $171.9 million in the quarter
a year ago. EBITDA As Defined as a percentage of net sales for the quarter
was 46.5%.

As previously announced on October 25, 2012, TransDigm entered into an
agreementto acquire the pump & engine control systems business of Goodrich,a
subsidiary ofUnited Technologies Corporation, for approximately $236 million
in cash. The acquisition, subject to regulatory approvals and other customary
closing conditions, is expected to close late in the current calendar year or
early in 2013.

Year-to-Date Results

Fiscal 2012 net sales rose 41.0% to $1,700.2 million from $1,206.0 million in
the comparable period last year. Organic sales growth was 11.8%. The
acquisitions of McKechnie, Talley, Schneller, Harco, AmSafe and
Aero-Instruments accounted for the balance of the sales increase.

Fiscal 2012 net income from continuing operations increased 113.5% to $325.0
million, or $5.97 per share, from $152.2 million, or $2.80 per share. Net
income from continuing operations in the prior year included one-time costs of
$48.1 million, net of tax, or $0.90 per share, attributable to the refinancing
of the Company's capital structure in connection with the acquisition of
McKechnie in the first quarter of fiscal 2011. The remainder of the increase
in net income from continuing operations primarily reflects the growth in net
sales partially offset by higher interest expense. Net income from continuing
operations for the fiscal year ended September 30, 2012 includes
acquisition–related and non-cash compensation costs of $34.7 million, net of
tax, or $0.64 per share. In addition to the one-time costs attributable to the
refinancing noted above, the net income from continuing operations in the
comparable period a year ago included acquisition-related and non-cash
compensation costs of $38.6 million, net of tax, or $0.73 per share.

Net income from discontinued operations in the comparable period a year ago
was $19.9 million, or $0.37 per share.

Fiscal 2012 adjusted net income rose 50.6% to $359.7 million, or $6.67 per
share, from $238.9 million, or $4.48 per share, in the comparable period a
year ago.

Fiscal 2012 EBITDA increased 61.6% to $768.0 million from $475.1 million in
the comparable period a year ago. EBITDA As Defined for the period, increased
37.2% to $809.0 million compared with $589.9 million in the comparable period
a year ago. EBITDA As Defined as a percentage of net sales for the period was
47.6%.

"We are pleased with the operating results for both the fourth quarter and
full fiscal year," stated W. Nicholas Howley, TransDigm Group's Chairman and
Chief Executive Officer. "Despite growing macro economic uncertainty, we
achieved almost 50% growth in adjusted earnings per share for the full fiscal
year. This increasewas driven by 41% sales growth derived from both our
recent acquisitions and organic growth across our market channels. The
ongoing strong year-to-date EBITDA As Defined margin was again achieved in
spite of approximately 3 margin point dilution from acquisitions. This
financial performance continues to reflect the ability of our proven operating
strategy to consistently create real intrinsic value for our shareholders."

He continued, "In fiscal 2012, we completed the acquisition of three
proprietary aerospace component businesses for approximately $870 million.
Additionally, we raised approximately $500 million in debt to finance the
acquisition of AmSafe in February 2012 and raised $700 million in October 2012
to pay a special dividend in November 2012. We ended the year with
approximately $440 million in cash and approximately $300 million of capacity
on our revolving credit facility as well as additional borrowing capacity
under our credit agreement. This strong liquidity provides us with the
flexibility to readily support continued growth and pursue acquisition
opportunities."

Please see the attached tables for a reconciliation of net income to EBITDA,
EBITDA As Defined, and adjusted net income; a reconciliation of net cash
provided by operating activities to EBITDA and EBITDA As Defined, and a
reconciliation of earnings per share to adjusted earnings per share for the
periods discussed in this press release.

Fiscal 2013 Outlook

Assuming no acquisition activity and based upon current market conditions, the
Company expects fiscal 2013 financial performance to be as follows:

  oNet sales are anticipated to be in the range of $1,800 million to $1,900
    million compared with $1,700 million in fiscal 2012;
  oEBITDA As Defined is anticipated to be in the range of $864 million to
    $912 million compared with $809 million in fiscal 2012;
  oNet income is anticipated to be in the range of $336 million to $360
    million compared with $325 million in fiscal 2012;
  oEarnings per share are expected to be in the range of $5.44 to $5.88 per
    share based upon weighted average shares outstanding of 54.5 million
    compared with $5.97 per share in fiscal 2012; and
  oAdjusted earnings per share are expected to be in the range of $6.54 to
    $6.98 per share compared with $6.67 per share in fiscal 2012.

The fiscal 2013 guidance is based upon the following market assumptions:

  oIn the commercial OEM market, we estimate revenue to be up in the
    low-single digit percentage range.
  oIn the commercial aftermarket, we are assuming revenue growth to be in the
    5-10% range.
  oIn the defense market, absent any significant impact from sequestration,
    we estimate revenues to be modestly down.

Conference Call

TransDigm Group will host a conference call for investors and security
analysts on November 15, 2012, beginning at 11:00 a.m., Eastern Time. To join
the call, dial (800) 320-2978 and enter the pass code 64306308. International
callers should dial (617) 614-4923 and use the same pass code. A live audio
webcast can be accessed online at http://www.transdigm.com. A slide
presentation will also be available for reference during the conference call;
go to the investor relations page of our website and click on "Presentations."

The call will be archived on the website and available for replay at
approximately 2:00 p.m., Eastern Time. A telephone replay will be available
for two weeks by dialing (888) 286-8010 and entering the pass code 57227216.
International callers should dial (617) 801-6888 and use the same pass code.

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, NiCad batteries and chargers, engineered latching and
locking devices, rods and locking devices, engineered connectors and
elastomers, cockpit security components and systems, specialized cockpit
displays, aircraft audio systems, specialized lavatory components, seatbelts
and safety restraints, engineered interior surfaces and lighting and control
technology.

Non-GAAP Supplemental Information

EBITDA, EBITDA As Defined, EBITDA As Defined Margin, adjusted net income and
adjusted earnings per share are non-GAAP financial measures presented in this
press release as supplemental disclosures to net income and reported results.
TransDigm Group defines EBITDA as earnings before interest, taxes,
depreciation and amortization and defines EBITDA As Defined as EBITDA plus
certain non-operating items, refinancing costs, acquisition-related costs,
transaction-related costs and non-cash charges incurred in connection with
certain employee benefit plans. TransDigm Group defines adjusted net income as
net income plus purchase accounting backlog amortization expense, 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 Margin represents EBITDA As
Defined as a percentage of net sales. TransDigm Group defines adjusted
diluted earnings per share as adjusted net income divided by the total shares
for basic and diluted earnings per share. For more information regarding the
computation of EBITDA, EBITDA As Defined and adjusted net income and adjusted
earnings per share, please see the attached financial tables.

TransDigm Group presents these non-GAAP financial measures because it believes
that they are useful indicators of its operating performance. TransDigm Group
believes that EBITDA is useful to investors because it is frequently used by
securities analysts, investors and other interested parties to measure
operating performance among companies with different capital structures,
effective tax rates and tax attributes, capitalized asset values and employee
compensation structures, all of which can vary substantially from company to
company. In addition, analysts, rating agencies and others use EBITDA to
evaluate a company's ability to incur and service debt. EBITDA As Defined is
used to measure TransDigm Inc.'s compliance with the financial covenant
contained in its credit facility. TransDigm Group's management also uses
EBITDA As Defined to review and assess its operating performance, to prepare
its annual budget and financial projections and to review and evaluate its
management team in connection with employee incentive programs. Moreover,
TransDigm Group's management uses EBITDA As Defined to evaluate acquisitions
and as a liquidity measure. In addition, TransDigm Group's management uses
adjusted net income as a measure of comparable operating performance between
time periods and among companies as it is reflective of changes in pricing
decisions, cost controls and other factors that affect operating performance.

None of EBITDA, EBITDA As Defined, EBITDA As Defined Margin, adjusted net
income or adjusted earnings per share is a measurement of financial
performance under GAAP and such financial measures 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 these
non-GAAP financial measures may not be comparable to the calculation of
similarly titled measures reported by other companies.

Although we use EBITDA and EBITDA As Defined as measures to assess the
performance of our business and for the other purposes set forth above, the
use of these non-GAAP financial measures as analytical tools has limitations,
and you should not consider any of them in isolation, or as a substitute for
analysis of our results of operations as reported in accordance with GAAP.
Some of these limitations are:

  oneither EBITDA nor EBITDA As Defined reflects the significant interest
    expense, or the cash requirements necessary to service interest payments,
    on our indebtedness;
  oalthough depreciation and amortization are non-cash charges, the assets
    being depreciated and amortized will often have to be replaced in the
    future, and neither EBITDA nor EBITDA As Defined reflects any cash
    requirements for such replacements;
  othe omission of the substantial amortization expense associated with our
    intangible assets further limits the usefulness of EBITDA and EBITDA As
    Defined;
  oneither EBITDA nor EBITDA As Defined includes the payment of taxes, which
    is a necessary element of our operations; and
  oEBITDA As Defined excludes the cash expense we have incurred to integrate
    acquired businesses into our operations, which is a necessary element of
    certain of our acquisitions.

Because of these limitations, EBITDA and EBITDA As Defined should not be
considered as measures of discretionary cash available to us to invest in the
growth of our business. Management compensates for these limitations by not
viewing EBITDA or EBITDA As Defined in isolation and specifically by using
other GAAP measures, such as net income, net sales and operating profit, to
measure our operating performance. Neither EBITDA nor EBITDA As Defined is a
measurement of financial performance under GAAP, and neither should be
considered as an alternative to net income or cash flow from operations
determined in accordance with GAAP. Our calculation of EBITDA and EBITDA As
Defined may not be comparable to the calculation of similarly titled measures
reported by other companies.

Forward-Looking Statements

Statements in this press release that are not historical facts, including
statements under the heading "Fiscal 2013 Outlook," are forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995.Words such as "believe," "may," "will," "should," "expect," "intend,"
"plan," "predict," "anticipate," "estimate," or "continue" and other words and
terms of similar meaning may identify forward-looking statements.

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 or implied in any 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 statements contained in this press release.

Contact: Liza Sabol
          Investor Relations
          (216) 706-2945
          ir@transdigm.com





TRANSDIGM GROUP INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
FOR THE THIRTEEN WEEK PERIODS AND FISCAL YEARS ENDED
SEPTEMBER 30, 2012 AND SEPTEMBER 30, 2011
(Amounts in thousands, except per share amounts)
(Unaudited)                                                       Table 1
                         Thirteen Week              Fiscal Years
                         Periods Ended              Ended
                         September    September     September     September
                         30,          30,           30,           30,
                         2012         2011          2012          2011
                         $       $        $         $    
NET SALES                         342,953     1,700,208    1,206,021
                         462,606
COST OF SALES            205,786      149,937       754,491       544,836
GROSS PROFIT             256,820      193,016       945,717       661,185
SELLING AND
ADMINISTRATIVE           54,288       38,471        201,709       133,711
EXPENSES
AMORTIZATION OF          11,114       12,155        44,233        40,339
INTANGIBLE ASSETS
INCOME FROM OPERATIONS   191,418      142,390       699,775       487,135
INTEREST EXPENSE - Net   55,152       48,703        211,906       185,256
REFINANCING COSTS        -            37            -             72,454
INCOME FROM CONTINUING
OPERATIONS
 BEFORE INCOME TAXES    136,266      93,650        487,869       229,425
INCOME TAX PROVISION     48,400       29,337        162,900       77,200
INCOME FROM CONTINUING   87,866       64,313        324,969       152,225
OPERATIONS
INCOME FROM
DISCONTINUED
 OPERATIONS, NET OF     -            3,082         -             19,909
TAX
                         $       $        $        $     
NET INCOME                        67,395     324,969      172,134
                         87,866
NET INCOME APPLICABLE    $       $        $        $     
TO COMMON STOCK                   67,395     321,670      169,323
                         87,866
Net earnings per
share:
Net earnings per share
from continuing
operations -
                         $       $        $        $     
 basic and diluted                 1.20      5.97      2.80
                           1.63
Net earnings per share
from discontinued
operations -
 basic and diluted      -            0.06          -             0.37
Net earnings per         $       $        $        $     
share                             1.26      5.97      3.17
                           1.63
Weighted-average
shares outstanding:
Basic and diluted        53,882       53,333        53,882        53,333





TRANSDIGM GROUP INCORPORATED
SUPPLEMENTAL INFORMATION - RECONCILIATION OF EBITDA,
EBITDA AS DEFINED TO NET INCOME
FOR THE THIRTEEN WEEK PERIODS AND FISCAL YEARS ENDED
SEPTEMBER 30, 2012 AND SEPTEMBER 30, 2011
(Amounts in thousands)
(Unaudited)                                                       Table 2
                     Thirteen Week                 Fiscal Years Ended
                     Periods Ended
                     September      September      September      September
                     30,            30,            30,            30,
                     2012           2011           2012           2011
Net income           $         $         $         $     
                       87,866       67,395    324,969       172,134
Less income from
discontinued         -              3,082          -              19,909
operations
Income from
continuing           87,866         64,313         324,969        152,225
operations
Adjustments:
Depreciation and
amortization         17,582         17,601         68,227         60,460
expense
Interest expense,    55,152         48,703         211,906        185,256
net
Income tax           48,400         29,337         162,900        77,200
provision
EBITDA, excluding
discontinued         209,000        159,954        768,002        475,141
operations
Adjustments:
Acquisition
related expenses     (1,676)        6,168          18,866         29,711
and adjustments
^(1)
Stock option         7,758          5,736          22,151         12,568
expense^(2)
Refinancing costs    -              37             -              72,454
^(3)
Gross Adjustments    6,082          11,941         41,017         114,733
to EBITDA
EBITDA As Defined    $         $         $         $     
                      215,082       171,895     809,019       589,874
EBITDA As Defined,   46.5%          50.1%          47.6%          48.9%
Margin ^(4)
^(1)Represents accounting adjustments to inventory associated with
acquisitions of businesses and product lines that were charged to cost of
sales when the inventory was sold; costs incurred to integrate acquired
businesses and product lines into TD Group's operations, facility relocation
costs and other acquisition-related costs; transaction-related costs
comprising deal fees; legal, financial and tax due diligence expenses and
valuation costs that are required to be expensed as incurred, reversal of the
earn-out liability related to the Duke's Aerospace earn-out arrangement and
other acquisition accounting adjustments.
^(2) Represents the compensation expense recognized by TD Group under our
stock option plans.
^(3)Represents costs incurred in connection with the refinancing in December
2010, including the premium paid to redeem our 7¾% senior subordinated notes
due 2014, the write-off of debt issue costs and unamortized note premium and
discount and settlement of the interest rate swap agreement and other
expenses.
^(4) The EBITDA As Defined margin represents the amount of EBITDA As Defined
as a percentage of sales.







TRANSDIGM GROUP INCORPORATED
SUPPLEMENTAL INFORMATION - RECONCILIATION OF
REPORTED EARNINGS PER SHARE TO
ADJUSTED EARNINGS PER SHARE
FOR THE THIRTEEN WEEK PERIODS AND FISCAL YEARS ENDED
SEPTEMBER 30, 2012 AND SEPTEMBER 30, 2011
(Amounts in thousands, except per share amounts)
(Unaudited)                                                        Table 3
                        Thirteen Week                 Fiscal Years Ended
                        Periods Ended
Reported Earnings Per   September 30,  September 30,  September    September
Share                   2012           2011           30,          30,
                                                      2012         2011
Net income from         $        $        $       $     
continuing operations                64,313            152,225
                        87,866                       324,969
Less: dividends paid
on
 participating        -              -              (3,299)      (2,811)
securities
                        87,866         64,313         321,670      149,414
Net income from
discontinued            -              3,082          -            19,909
operations
Net income applicable
to common
 stock - basic and    $        $        $       $     
diluted                              67,395            169,323
                        87,866                       321,670
Weighted-average
shares outstanding
under
 the two-class
method:^
Weighted average
common shares           51,535         50,206         50,996       49,888
outstanding
Vested options deemed
participating           2,347          3,127          2,886        3,445
securities
Total shares for basic
and diluted earnings    53,882         53,333         53,882       53,333
per share
Net earnings per share
from continuing
operations
                        $        $        $       $     
 - basic and diluted                              2.80
                        1.63          1.20          5.97
Net earnings per share
from discontinued
operations
 - basic and diluted  -              0.06           -            0.37
                        $        $        $       $     
Net earnings per share                              3.17
                        1.63          1.26          5.97
Adjusted Earnings Per
Share
Net income from         $        $        $       $     
continuing operations                64,313            152,225
                        87,866                       324,969
Gross adjustments to    6,082          11,941         41,017       114,733
EBITDA
Purchase accounting     2,113          5,360          11,056       15,858
backlog amortization
Tax adjustment          (3,098)        (4,402)        (17,387)     (43,943)
                        $        $        $       $     
Adjusted net income                  77,212            238,873
                        92,963                       359,655
Adjusted diluted
earnings per share      $        $        $       $     
under the                                           4.48
                        1.72          1.45          6.67
 two-class method







TRANSDIGM GROUP INCORPORATED
SUPPLEMENTAL INFORMATION - RECONCILIATION OF
DILUTED EARNINGS PER SHARE TO
ADJUSTED EARNINGS PER SHARE
(Amounts in thousands, except per share amounts)
(Unaudited)                                                        Table 4
                            Thirteen Week Periods     Fiscal Years Ended
                            Ended
                            September    September    September    September
                            30,          30,          30,          30,

                            2012         2011         2012         2011
Income from continuing      $       $        $       $    
operations                   87,866     64,313      324,969      152,225
Less: dividends paid
on
 participating            -            -            (3,299)      (2,811)
securities
Net income applicable
to common
 stock                    87,866       64,313       321,670      149,414
Less: income from           -            3,082        -            19,909
discontinued operations
Income applicable to        $       $        $       $    
common stock                 87,866     67,395      321,670      169,323
Weighted average common     51,535       50,206       50,996       49,888
shares outstanding
Vested options deemed       2,347        3,127        2,886        3,445
participating securities
Weighted-average shares     53,882       53,333       53,882       53,333
outstanding
Earnings from continuing    $       $       $       $     
operations                     1.63    1.20         5.97     2.80
Adjustments to diluted
earnings per share:
 Refinancing costs        -            -            -            0.90
 Inclusion of the
dividend equivalent         -            -            0.06         0.05
payment
 Non-cash                 0.09         0.08         0.27         0.16
compensation costs
 Acquisition related      -            0.17         0.37         0.57
expenses
 Adjusted earnings       $       $       $       $     
per share                      1.72    1.45         6.67     4.48







TRANSDIGM GROUP INCORPORATED
SUPPLEMENTAL INFORMATION - RECONCILIATION OF NET CASH
PROVIDED BY OPERATING ACTIVITIES TO EBITDA, EBITDA AS DEFINED
FOR THE FISCAL YEARS ENDED
SEPTEMBER 30, 2012 AND SEPTEMBER 30, 2011
(Amounts in thousands, except per share amounts)
(Unaudited)                                                   Table 5
                                       Fiscal Years Ended
                                       September 30,         September 30,

                                       2012                  2011
Net Cash Provided by Operating         $               $      
Activities                             413,885               260,386
Adjustments:
Changes in assets and liabilities, net
of effects from                        (11,749)               (30,874)

 acquisitions of businesses
Interest expense - net ^(1)            199,362                175,414
Income tax provision - current         138,100                130,109
Non-cash equity compensation           (22,151)               (12,574)
^(2)
Excess tax benefit from                50,555                 23,411
exercise of stock options
Refinancing costs ^(3)                 -                      (72,454)
EBITDA                                 768,002                473,418
Adjustments:
Acquisition related                    18,866                 33,466
expenses^(4)
Stock option expense^(5)               22,151                 12,568
Refinancing costs ^(3)                 -                      72,454
EBITDA from discontinued               -                      (2,032)
operations
EBITDA As Defined                      $               $      
                                       809,019               589,874
^(1)Represents interest expense excluding the amortization of debt issue costs
and note premium and discount.
^(2)Represents the compensation expense recognized by TD Group under our stock
plans.
^(3)Represents costs incurred in connection with the refinancing in December
2010, including the premium paid to redeem our 7 ^3/4%senior subordinated
notes due 2014, the write-off of debt issue costs and unamortized note premium
and discount, and settlement of the interest rate swap agreement and other
expenses.
^(4)Represents accounting adjustments to inventory associated with
acquisitions of businesses and product lines that were charged to cost of
sales when the inventory was sold; costs incurred to integrate acquired
businesses and product lines into TD Group's operations, facility relocation
costs and other acquisition-related costs; transaction-related costs
comprising deal fees; legal, financial and tax due diligence expenses and
valuation costs that are required to be expensed as incurred, reversal of the
earn-out liability related to the Duke's Aerospace earn-out arrangement and
other acquisition accounting adjustments.
^(5)Represents the compensation expense recognized by TD Group under our stock
option plans.





TRANSDIGM GROUP INCORPORATED
SUPPLEMENTAL INFORMATION - BALANCE SHEET DATA
(Amounts in thousands)
(Unaudited)                                             Table 6
                                September 30, 2012      September 30, 2011
Cash and cash equivalents       $               $        
                                440,524                 376,183
Trade accounts receivable -     235,783                 189,293
Net
Inventories - Net              320,503                 265,317
Current portion of long-term    20,500                  15,500
debt
Accounts payable                74,178                  62,110
Accrued liabilities             139,237                 129,249
Long-term debt                 3,598,625               3,122,875
Total stockholders' equity      1,218,834               810,949











SOURCE TransDigm Group Incorporated

Website: http://www.transdigm.com
 
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