TransDigm Group raises forecast for '08 profit and sales
CLEVELAND—Airplane parts maker TransDigm Group Inc. raised its forecast for 2008 profit and sales after reporting a 50 percent rise in first-quarter profit.
TransDigm now expects to earn $128.5 million to $131.5 million this year, compared with the previous forecast for profit of $113 million to $118 million.
On a per share basis, excluding certain costs, the company expects profit of $2.69 per share to $2.75 per share. Analysts polled by Thomson Financial forecast profit of $2.54 per share.
The company expects sales of $700 million to $710 million. Previously, the company forecast sales of $680 million to $700 million. Analysts expect sales of $701.4 million.
Shares rose $3.64, or 9.3 percent, to $43 in morning trading
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