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TransDigm Group profit misses consensus by 16.0% in fiscal Q2

TransDigm Group Inc. said its normalized net income for the fiscal second quarter ended April 1 was $2.53 per share, compared with the S&P Capital IQ consensus estimate of $3.01 per share.

EPS rose year over year from $2.43.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $141.6 million, an increase from $136.5 million in the year-earlier period.

The normalized profit margin dropped to 16.2% from 17.1% in the year-earlier period.

Total revenue rose 9.6% year over year to $873.2 million from $796.8 million, and total operating expenses grew 6.8% year over year to $498.8 million from $467.1 million.

Reported net income increased 9.8% year over year to $155.5 million, or $2.78 per share, from $141.7 million, or $2.52 per share.