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|Triumph Group Comments on First Quarter Earnings Expectations|
WAYNE, Pa.--(BUSINESS WIRE)--June 11, 2003--Triumph Group, Inc. (NYSE:TGI) today stated that it expects the results for the first quarter ending June 30, 2003 to be lower than Wall Street analysts' estimates.
Richard C. Ill, Triumph's President and Chief Executive Officer, said, "During the first three months of the year, we are continuing to experience a downturn in aircraft production and a decrease in airline passenger miles flown. While we have not previously provided guidance for the quarter or the year end results, given the volatility of the marketplace, we expect Triumph's results from continuing operations for the June quarter to be $0.45 to $0.50 per common share as compared to the consensus estimate of $0.58 per common share." All references to earnings per share herein are on the diluted basis.
Regarding the outlook for the year, Mr. Ill stated, "In light of the fact that historically our first quarter has always been our most difficult comparison, we have no reason at this point in time to disagree with the analysts outlook for the year."
Triumph will report results after the market closes on July 24, 2003, followed by a conference call with management on July 25, 2003.
Triumph Group, Inc. headquartered in Wayne, Pennsylvania, designs, engineers, manufactures, repairs and overhauls aircraft components and industrial gas turbine components and accessories. 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 and power generation equipment.
More information about Triumph can be found on the Internet at http://www.triumphgroup.com.
Statements which are not historical facts, including statements regarding the company's expected earnings for the first quarter and the fiscal year, 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 including statements regarding the outlook for continued opportunities for future growth. 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, 2002.CONTACT: Triumph Group, Inc. John Bartholdson, 610/251-1000 firstname.lastname@example.org
SOURCE: Triumph Group, Inc.