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Triumph Group Reports Fourth Quarter and Year End Fiscal 2007 Results
    --  Net sales for fiscal year 2007 increased 26% to $954.7 million

    --  Operating income in fiscal year 2007 increased 62% to $90.7
        million

    --  Net income for fiscal year 2007 increased 36% to $47.1 million

    --  Year end backlog reached a new high of $1.1 billion, up 29%
        over prior year

WAYNE, Pa.--(BUSINESS WIRE)--May 3, 2007--Triumph Group, Inc. (NYSE:TGI) today reported that, for the fiscal year 2007, net sales totaled $954.7 million, a twenty-six percent increase from fiscal year 2006 net sales of $760.4 million. Net income for fiscal year 2007 increased thirty-six percent to $47.1 million, or $2.87 per diluted common share, versus $34.5 million, or $2.15 per diluted common share, for fiscal year 2006. During this fiscal year, the company generated $47.7 million of cash flow from operations.

Net sales for the fourth quarter ended March 31, 2007 were $263.5 million, a twenty-four percent increase from last fiscal year's fourth quarter net sales of $211.9 million. Net income for the fourth quarter of fiscal year 2007 increased thirty percent to $14.2 million, or $0.86 per diluted common share, versus $11.0 million, or $0.68 per diluted common share, for the fourth quarter of the prior fiscal year. During the quarter, the company generated $27.0 million of cash flow from operations. Results for the fourth quarter of fiscal year 2007 included $0.03 per share charge related to stock-based compensation.

Prior year period segment results have been changed to classify certain revenue and costs from the Aftermarket Services segment to the Aerospace Systems segment for the operation of Triumph Fabrications-Phoenix and Triumph Fabrications-Fort Worth due to the fact that most of their product line has been transitioned to aerospace OEM products. The transitioning of these business units resulted in the shift of approximately $6.6 million in revenue and $2.4 million in operating loss for the quarter ended March 31, 2006, previously reported in the Aftermarket Services segment, to the Aerospace Systems segment. Segment results have been adjusted to reflect these changes.

The Aerospace Systems segment reported net sales for fiscal year 2007 of $750.9 million, compared to $600.0 million for the prior fiscal year, an increase of twenty-five percent. For the fourth quarter of fiscal year 2007, the segment's net sales increased twenty-three percent to $206.9 million from $168.8 million for the prior fiscal year period. Operating income for fiscal year 2007 was $101.6 million, compared to $66.0 million for the prior fiscal year, an increase of fifty-four percent. For the quarter, operating income increased fifty-six percent to $30.2 million versus $19.4 million for the prior fiscal year quarter. Organic sales growth for the fiscal year 2007 was sixteen percent.

The Aftermarket Services segment reported net sales for fiscal year 2007 of $206.3 million, compared to $164.0 million for the prior fiscal year, an increase of twenty-six percent. For the fourth quarter of fiscal year 2007, the segment's net sales increased thirty percent to $57.2 million from $44.0 million for the prior fiscal year period. Operating income for fiscal year 2007 was $8.4 million, compared to $4.6 million for the prior fiscal year, an increase of eighty-three percent. For the quarter, operating income increased 496 percent to $1.6 million versus $0.3 million for the prior fiscal year quarter. Organic sales growth for the fiscal year 2007 was fourteen percent. Operating costs in excess of revenue associated with the new Thailand maintenance and repair facility was $0.9 million for the quarter and $3.4 million for the fiscal year 2007. In addition, the fourth quarter of fiscal 2007 included a charge of $1.2 million related to a change in the method of accounting for power by the hour contracts.

Richard C. Ill, Triumph's President and Chief Executive Officer, said, "Triumph had an excellent fiscal year 2007. Continued improvement in both our OEM and aftermarket markets resulted in strong growth in revenue, operating income and earnings across our core businesses. Our record level of backlog is a clear indication of the success of our products and strategy and provides us with strong momentum heading into fiscal 2008 and beyond."

In commenting on the outlook for fiscal year 2008, Mr. Ill said, "We expect to see continued growth in customer demand across our operations in fiscal year 2008. We project sales in the range of $1.1 billion to $1.2 billion and earnings per share for the fiscal year of $3.60 to $3.80."

As previously announced, Triumph will hold a conference call tomorrow at 8:30 a.m. (ET) to discuss the fiscal year 2007 fourth quarter and year-end results. The conference call will be available live and archived on the company's website at http://www.triumphgroup.com. A slide presentation will be included with the audio portion of the webcast. An audio replay will be available from May 4th until May 11th by calling (888) 266-2081 (Domestic) or (703) 925-2533 (International), passcode #1072694.

Triumph Group, Inc., headquartered in Wayne, Pennsylvania, designs, engineers, manufactures, repairs and overhauls aircraft components and accessories. The company serves a broad, worldwide spectrum of the aviation industry, including commercial and regional airlines, air cargo carriers, as well as original equipment manufacturers of commercial, regional, business and military aircraft and aircraft components.

More information about Triumph can be found on the Internet at http://www.triumphgroup.com.

Statements in this release which are not historical facts are forward-looking statements under the provisions of the Private Securities Litigation Reform Act of 1995, including expectations of future product and service development, the aerospace market conditions, financial performance, revenue and earnings growth and sales and earnings results for fiscal 2008. All forward-looking statements involve risks and uncertainties which 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 Annual Report on Form 10-K for the year ended March 31, 2006.


                      FINANCIAL DATA (UNAUDITED)

                 TRIUMPH GROUP, INC. AND SUBSIDIARIES
                (in thousands, except per share data)


                               Three Months Ended  Twelve Months Ended
                                    March 31,           March 31,
                               ------------------- -------------------

CONDENSED STATEMENTS OF INCOME   2007      2006      2007      2006
                               --------- --------- --------- ---------


Net Sales                      $263,450  $211,870  $954,735  $760,421

Operating Income                 25,295    15,937    90,653    56,087

Interest Expense and Other        3,714     3,074    14,468    12,519
Charge for Early
 Extinguishment of Debt               0         0     5,088         0
Income Tax Expense                7,355     1,908    24,026     9,053
                               --------- --------- --------- ---------

Net Income                      $14,226   $10,955   $47,071   $34,515
                               ========= ========= ========= =========

Earnings Per Share - Basic:

Net Income                        $0.87     $0.69     $2.90     $2.17
                               ========= ========= ========= =========

Weighted average common shares
 outstanding - Basic             16,377    15,952    16,220    15,920
                               ========= ========= ========= =========

Earnings Per Share - Diluted:

Net Income                        $0.86     $0.68     $2.87     $2.15
                               ========= ========= ========= =========

Weighted average common shares
 outstanding - Diluted           16,599    16,126    16,413    16,060
                               ========= ========= ========= =========

Dividends declared and paid
 per common share                 $0.04     $0.00     $0.12     $0.00
                               ========= ========= ========= =========


                      FINANCIAL DATA (UNAUDITED)

                 TRIUMPH GROUP, INC. AND SUBSIDIARIES
            (dollars in thousands, except per share data)

BALANCE SHEET
                                               March 31,    March 31,
                                                 2007         2006
                                              -----------  -----------
                   Assets
   Cash                                           $7,257       $5,698
   Accounts Receivable, net                      174,526      147,780
   Inventory                                     307,665      235,878
   Deferred Income Taxes                          10,481        6,868
   Prepaid Expenses and Other                      6,805        4,894
                                              -----------  -----------
      Current Assets                             506,734      401,118

   Property and Equipment, net                   294,479      237,325
   Goodwill                                      342,881      272,737
   Intangible Assets, net                         69,919       49,424
   Other                                          17,261       14,179
                                              -----------  -----------

   Total Assets                               $1,231,274     $974,783
                                              ===========  ===========

     Liabilities & Stockholders' Equity

   Accounts Payable                             $103,164      $73,995
   Accrued Expenses                               78,192       68,488
   Income Taxes Payable                            2,081        5,195
   Current Portion of Long-Term Debt               5,702        8,078
                                              -----------  -----------
      Current Liabilities                        189,139      155,756

   Long-Term Debt, less current portion          310,481      153,339
   Deferred Income Taxes and Other               104,291      101,985

   Stockholders' Equity:
      Common Stock, $.001 par value,
       50,000,000 shares authorized,
       16,469,617 and 16,027,324 shares
       issued                                         16           16
      Capital in excess of par value             278,177      260,124
      Treasury Stock, at cost, 0 and 18,311
       shares                                          0         (455)
      Accumulated other comprehensive income
       (loss)                                       (120)        (162)
      Retained earnings                          349,290      304,180
                                              -----------  -----------
         Total Stockholders' Equity              627,363      563,703
                                              -----------  -----------

   Total Liabilities and Stockholders' Equity $1,231,274     $974,783
                                              ===========  ===========


                      FINANCIAL DATA (UNAUDITED)

                 TRIUMPH GROUP, INC. AND SUBSIDIARIES
                        (dollars in thousands)


SEGMENT DATA                   Three Months Ended  Twelve Months Ended
                                    March 31,           March 31,
                               ------------------- -------------------

                                 2007      2006      2007      2006
                               --------- --------- --------- ---------

Net Sales:
   Aerospace Systems           $206,850  $168,836  $750,852  $599,984
   Aftermarket Services          57,175    44,021   206,309   164,026
   Elimination of inter-
    segment sales                  (575)     (987)   (2,426)   (3,589)
                               --------- --------- --------- ---------
                               $263,450  $211,870  $954,735  $760,421
                               ========= ========= ========= =========

Operating Income (Loss):
   Aerospace Systems            $30,169   $19,372  $101,624   $66,016
   Aftermarket Services           1,640       275     8,381     4,578
   Corporate                     (6,514)   (3,710)  (19,352)  (14,507)
                               --------- --------- --------- ---------
                                $25,295   $15,937   $90,653   $56,087
                               ========= ========= ========= =========

Depreciation and Amortization:
   Aerospace Systems             $6,977    $5,727   $26,300   $23,491
   Aftermarket Services           3,180     2,220    10,500     8,394
   Corporate                         61        48       229       153
                               --------- --------- --------- ---------
                                $10,218    $7,995   $37,029   $32,038
                               ========= ========= ========= =========


Capital Expenditures:
   Aerospace Systems            $14,010    $7,727   $39,364   $17,428
   Aftermarket Services           5,434     3,690    20,031    10,976
   Corporate                        111        72       299       373
                               --------- --------- --------- ---------
                                $19,555   $11,489   $59,694   $28,777
                               ========= ========= ========= =========


                      FINANCIAL DATA (UNAUDITED)

                 TRIUMPH GROUP, INC. AND SUBSIDIARIES
                        (dollars in thousands)

Non-GAAP Financial Measure Disclosures


Earnings before Interest, Taxes, Depreciation and Amortization
 ("EBITDA") for the three months ended March 31, 2007 was $35.5
 million with a margin of 13.5%. EBITDA for the three months ended
 March 31, 2006 was $23.9 million with a margin of 11.3%. EBITDA for
 the twelve months ended March 31, 2007 was $127.7 million with a
 margin of 13.4%. EBITDA for the twelve months ended March 31, 2006
 was $88.1 million with a margin of 11.6%.

Management believes that EBITDA provides the reader a good measure of
 cash generated from the operations of the business before any
 investment in working capital or fixed assets.

The following definition is provided for the non-GAAP financial
 measure identified above, together with a reconciliation of such non-
 GAAP financial measure to the most directly comparable financial
 measure calculated and presented in accordance with GAAP.


                               Three Months Ended  Twelve Months Ended
                                    March 31,           March 31,
                               ------------------- -------------------
                                 2007      2006      2007      2006
                               --------- --------- --------- ---------
  Earnings before Interest,
   Taxes, Depreciation and
    Amortization (EBITDA):

   Net Income                   $14,226   $10,955   $47,071   $34,515

   Add-back:
      Income Tax Expense          7,355     1,908    24,026     9,053
      Charge for Early
       Extinguishment of Debt         0         0     5,088         0
      Interest Expense and
       Other                      3,714     3,074    14,468    12,519
      Depreciation and
       Amortization              10,218     7,995    37,029    32,038
                               --------- --------- --------- ---------

   Earnings before Interest,
    Taxes, Depreciation and
    Amortization ("EBITDA")     $35,513   $23,932  $127,682   $88,125
                               --------- --------- --------- ---------

   Net Sales                   $263,450  $211,870  $954,735  $760,421
                               --------- --------- --------- ---------

   EBITDA Margin                   13.5%     11.3%     13.4%     11.6%
                               ========= ========= ========= =========


                      FINANCIAL DATA (UNAUDITED)

                 TRIUMPH GROUP, INC. AND SUBSIDIARIES
                        (dollars in thousands)

Non-GAAP Financial Measure Disclosures (continued)

Earnings before Interest,
 Taxes, Depreciation and
  Amortization (EBITDA):       Three Months Ended March 31, 2007
                          --------------------------------------------
                                               Segment Data
                                    ----------------------------------
                                    Aerospace Aftermarket Corporate /
                            Total    Systems   Services   Eliminations
                          --------- --------- ----------- ------------

   Net Income              $14,226

   Add-back:
      Income Tax Expense     7,355
      Charge for Early
       Extinguishment of
       Debt                      0
      Interest Expense
       and Other             3,714
                          ---------

   Operating Income
    (Expense)              $25,295   $30,169      $1,640      ($6,514)

      Depreciation and
       Amortization         10,218     6,977       3,180           61
                          --------- --------- ----------- ------------

   Earnings (Losses)
    before Interest,
    Taxes, Depreciation
    and Amortization
    ("EBITDA")             $35,513   $37,146      $4,820      ($6,453)
                          ========= ========= =========== ============

   Net Sales              $263,450  $206,850     $57,175        ($575)
                          ========= ========= =========== ============

   EBITDA Margin              13.5%     18.0%        8.4%     n/a
                          ========= ========= =========== ============


Earnings before Interest,
 Taxes, Depreciation and
  Amortization (EBITDA):       Twelve Months Ended March 31, 2007
                          --------------------------------------------
                                               Segment Data
                                    ----------------------------------
                                    Aerospace Aftermarket Corporate /
                            Total    Systems   Services   Eliminations
                          --------- --------- ----------- ------------

   Net Income              $47,071

   Add-back:
      Income Tax Expense    24,026
      Charge for Early
       Extinguishment of
       Debt                  5,088
      Interest Expense
       and Other            14,468
                          ---------

   Operating Income
    (Expense)              $90,653  $101,624      $8,381     ($19,352)

      Depreciation and
       Amortization         37,029    26,300      10,500          229
                          --------- --------- ----------- ------------

   Earnings (Losses)
    before Interest,
    Taxes, Depreciation
    and Amortization
    ("EBITDA")            $127,682  $127,924     $18,881     ($19,123)
                          ========= ========= =========== ============

    Net Sales             $954,735  $750,852    $206,309      ($2,426)
                          ========= ========= =========== ============

    EBITDA Margin             13.4%     17.0%        9.2%     n/a
                          ========= ========= =========== ============


                      FINANCIAL DATA (UNAUDITED)

                 TRIUMPH GROUP, INC. AND SUBSIDIARIES
                        (dollars in thousands)

Non-GAAP Financial Measure Disclosures (continued)

We use "Net Debt to Capital" as a measure of financial leverage. The
 following table sets forth the computation of Net Debt to Capital:

                                               March 31,    March 31,
                                                 2007         2006
                                              -----------  -----------

Calculation of Net Debt
---------------------------------------------
Current Portion                                   $5,702       $8,078
Long-term debt                                   310,481      153,339
                                              -----------  -----------
Total Debt                                       316,183      161,417
Less: Cash                                         7,257        5,698
                                              -----------  -----------
Net Debt                                        $308,926     $155,719
                                              ===========  ===========

Calculation of Capital
---------------------------------------------
Net Debt                                        $308,926     $155,719
Stockholders' equity                             627,363      563,703
                                              -----------  -----------
Total Capital                                   $936,289     $719,422
                                              ===========  ===========

Percent of Net Debt to Capital                      33.0%        21.6%


                      FINANCIAL DATA (UNAUDITED)

                 TRIUMPH GROUP, INC. AND SUBSIDIARIES


Reconciliation of Non-GAAP Financial Measure Disclosures

The Company believes its earnings excluding the third quarter charge
 for the early extinguishment of debt provides financial statement
 users with meaningful insight into operating trends.

Reconciliation of Non-GAAP EPS to GAAP EPS:


                               Three Months Ended  Twelve Months Ended
                                    March 31,           March 31,
                               ------------------- -------------------
                                 2007      2006      2007      2006
                               --------- --------- --------- ---------

Earnings Per Share - Basic:       $0.87     $0.69     $2.90     $2.17

Third Quarter Charge for Early
 Extinguishment of Debt           $0.00     $0.00     $0.20     $0.00
                               --------- --------- --------- ---------

Earnings Per Share-Basic,
 Excluding Charge for Early
 Extinguishment of Debt           $0.87     $0.69     $3.10     $2.17
                               ========= ========= ========= =========



Earnings Per Share - Diluted:     $0.86     $0.68     $2.87     $2.15

Third Quarter Charge for Early
 Extinguishment of Debt           $0.00     $0.00     $0.20     $0.00
                               --------- --------- --------- ---------

Earnings Per Share-Diluted,
 Excluding Charge for Early
 Extinguishment of Debt           $0.86     $0.68     $3.07     $2.15
                               ========= ========= ========= =========


    CONTACT: Triumph Group, Inc., Wayne
             Sheila Spagnolo, Vice President, 610-251-1000
             sspagnolo@triumphgroup.com

    SOURCE: Triumph Group, Inc.