S&P Downgrades Triumph Group (TGI) to 'BB-'; Outlook Stable
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Triumph Group Reports Fourth Quarter and Full Fiscal Year 2016 Results; Implementing ‘One Triumph’ Transformation Strategy
May 4, 2016 6:00 AM EDTFourth Quarter and Full Fiscal Year 2016 Results
Net sales of $1.058 billion for fourth quarter fiscal year 2016 Adjusted operating income for fourth quarter fiscal year 2016 of $122.5 million, reflecting an operating margin of 12% Adjusted net income for fourth quarter fiscal year 2016 of $65.3 million, or $1.32 per diluted share Net loss for fourth quarter fiscal year 2016 of ($1.080) billion, or ($21.93) per share, and reflected net pre-tax charges totaling $1.305 billion related to:Non-cash impairment of goodwill and trade names Impairment of development costs on the Bombardier Global 7000/8000 program capitalized in inventory... More
