News Releases

Triumph Group Reports Results for the Quarter Ended December 31, 2000

January 25, 2001 at 7:35 AM EST

WAYNE, Pa.--(BUSINESS WIRE)--Jan. 25, 2001--Triumph Group, Inc. (NYSE:TGI) reported today that net sales for the third quarter ended December 31, 2000 were $143.2 million, an increase of 30 percent over the same period a year ago. Net income rose 14 percent to $10.0 million, or $0.80 per common share, up from $8.8 million, or $0.71 per common share, for the same period last year.

For the first nine months of fiscal 2001, net sales were $403.7 million, compared to $325.5 million for the first nine months of fiscal 2000, a 24 percent increase. Net income increased 9 percent to $27.4 million, or $2.21 per common share, from $25.2 million, or $2.03 per common share. All references to earnings per share herein are on the diluted basis unless otherwise stated.

Richard C. Ill, Triumph's President and Chief Executive Officer, said, "These record earnings demonstrate an improved operating environment within the aerospace industry and highlight Triumph's ability to deliver an expanded level of services to its customers."

Triumph's Aviation Segment operating income for the third quarter of fiscal 2001 was $22.0 million, compared to $14.7 million for the same period last year. Net sales for the quarter increased 41 percent, to $129.6 million, from $91.8 million in the third quarter of fiscal 2000.

The Metals Segment reported operating income for the third quarter of fiscal year 2001 of $0.2 million, compared to $1.2 million for the same period last year. Net sales of $13.6 million were down 27 percent from the third quarter of fiscal 2000.

Triumph Group, Inc. headquartered in Wayne, Pennsylvania, designs, engineers, manufactures, repairs, overhauls and distributes aircraft components. The Company serves a broad, worldwide spectrum of the aviation industry, including commercial airlines and air cargo carriers, as well as original equipment manufacturers of aircraft and aircraft components. The Company also distributes and processes metal products.

More information about Triumph can be found on the World Wide Web Site at http://www.triumphgrp.com.

Statements which are not historical facts contained in this release are forward-looking statements under the provision of the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve risks and uncertainties. The company wishes to caution readers that several important factors could affect the company's actual results and could cause its actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, the company. Further information regarding the important factors that could cause actual results to differ from projected results can be found in Triumph's reports filed with the SEC, including our Form 10-K for the year ended March 31, 2000.

           FINANCIAL DATA (UNAUDITED) ON FOLLOWING 2 PAGES



                      FINANCIAL DATA (UNAUDITED)

                 TRIUMPH GROUP, INC. AND SUBSIDIARIES

                 (in thousands, except per share data)

                            Three Months         Nine Months
                               Ended               Ended
                            December 31,         December 31,
                        -------------------   -------------------
CONDENSED STATEMENTS      1999       2000       1999       2000
 OF INCOME              
                        --------   --------   --------   --------

Net Sales               $110,376   $143,163   $325,546   $403,722

Operating Income:
 Ongoing Operating
  Income                  14,734     20,689     44,790     58,140
 Special Charge              734          0        734          0
                        --------   --------   --------   --------
 Total                    14,000     20,689     44,056     58,140

Interest Expense
  and other                2,655      5,906      6,826     15,666
Income Tax Expense         2,569      4,781     12,029     15,028
                        --------   --------   --------   --------

Net Income              $  8,776   $ 10,002   $ 25,201   $ 27,446
                        ========   ========   ========   ========

Earnings Per Share
 - Basic:
 Net Income             $   0.75   $   0.83   $   2.15   $   2.32
                        ========   ========   ========   ========

Weighted Average
 Common Shares
 Outstanding - Basic      11,664     12,068     11,697     11,806
                        ========   ========   ========   ========

Earnings Per Share
 - Assuming Dilution:
 Net Income             $   0.71   $   0.80   $   2.03   $   2.21
                        ========   ========   ========   ========

Weighted Average
 Common Shares
 Outstanding -
 Assuming Dilution        12,359     12,459     12,403     12,427
                        ========   ========   ========   ========



                      FINANCIAL DATA (UNAUDITED)

                 TRIUMPH GROUP, INC. AND SUBSIDIARIES

                            (in thousands)



                     Three Months Ended        Nine Months Ended
                        December 31,              December 31,

SEGMENT DATA          1999         2000         1999         2000
                   ---------    ---------    ---------    ---------

Net Sales:
 Aviation          $  91,757    $ 129,597    $ 269,540    $ 357,659
 Metals               18,619       13,566       56,006       46,063
                   ---------    ---------    ---------    ---------
                   $ 110,376    $ 143,163    $ 325,546    $ 403,722
                   =========    =========    =========    =========

Operating Income
 (Expense):
 Aviation          $  14,674    $  21,954    $  44,524    $  60,023
 Metals                1,175          181        3,103        1,836
 Corporate            (1,115)      (1,446)      (2,837)      (3,719)
 Special Charge         (734)        --           (734)        --
                   ---------    ---------    ---------    ---------
                   $  14,000    $  20,689    $  44,056    $  58,140
                   =========    =========    =========    =========

Depreciation and
 Amortization:
 Aviation          $   4,647    $   6,504    $  13,547    $  18,490
 Metals                  301          293          893          880
 Corporate                12           24           36           60
                   ---------    ---------    ---------    ---------
                   $   4,960    $   6,821    $  14,476    $  19,430
                   =========    =========    =========    =========



OTHER DATA

                        December 31, 1999         December 31, 2000
                        =================         =================


Backlog                          $240,833                  $340,985

--30--KMK/ph*

CONTACT: Triumph Group, Inc., Wayne
John R. Bartholdson, 610/975-0420