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TransDigm Group fiscal Q2 profit climbs 10.0% YOY

TransDigm Group Inc. said its normalized net income for the fiscal second quarter ended March 28 came to $1.78 per share, compared with the S&P Capital IQ consensus estimate of $2.01 per share.

EPS rose 10.9% year over year from $1.61.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $100.8 million, an increase of 10.0% from $91.6 million in the prior-year period.

The normalized profit margin climbed to 16.4% from 15.5% in the year-earlier period.

Total revenue increased on an annual basis to $619.0 million from $590.8 million, and total operating expenses declined from the prior-year period to $357.9 million from $361.9 million.

Reported net income grew 30.7% year over year to $110.9 million, or $1.96 per share, from $84.9 million, or $1.49 per share.