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TransDigm (TDG): Issuing Debt For Dividends?

Mon, 05 Oct 2009 20:32:17 GMT

The Wall Street Journal is reporting that aircraft parts supplier TransDigm Group (TDG) is planning to float $425 million worth of debt for the primary purpose of giving a special dividend to shareholders. Management has said that $360 million of the debt offering will be used to pay a special cash dividend expected to be $7.50 to $7.70 per share. The article in The Journal makes some points as to the rationale behind such a[More...]

TransDigm Report 'Remarkable'

Tue, 03 Feb 2009 20:50:00 GMT

TransDigm Group (TDG) reported some remarkable results for its fiscal 2009 first quarter, when compared to the same period last fiscal year. Net sales of $181.3 million were up 11.1% (organic sales growth - which excludes recent acquisitions - was 2.7%). The gross profit margin rose from 54.0% to 57.5%, while SG&A expenses declined from 11.0% of sales to 10.0%. The operating income margin went from 41.0% to 45.7%. And, aided by a lower tax rate of 35.0% versus 36.4%, net income as a percent of sales was 21.8%, up from 16.5%. The bottom line of all this is that diluted EPS for the quarter were $0.78 versus $0.54, up 44.4%. Part of the Company's stellar performance can be attributed to the fact that - reacting to the weakening of the commercial aerospace sector - it has already reduced[More...]

Trading The Next Leg Down

Thu, 20 Nov 2008 15:44:00 GMT

Now that we have broken down out of the consolidation zone in each of the major indexes, it is highly likely that we have a significant downward move ahead. Given recent volatility, we could see a headfake rally virtually anywhere. However, we have broken through lows that were tested on multiple occasions, and are in a clear downtrend, both long- and near-term. We have lower to go in the immediate future. In this volatile market, I am having more success trading options than equities. This is a personal style thing, and relates to my relatively tight stops on equity trades. I tend to accumulate a much larger number of small options positions gradually over time. Because they are small, I do not get anxious when they go they wander in the wrong direction, whereas I get very anxious when my equity trades do not work immediately. So mainly this is my own personal emotional issue, and I work to design my trading routine to minimize the emotional component. In this[More...]

Hedge Fund Masters 2008...Everyone Loves Qualcomm

Mon, 25 Feb 2008 17:41:21 GMT

Feeling a little contrarian today? Seth Klarman is, and he is buying some beaten down SLM with a full third of his portfolio. . .The 13Fs are arriving and below I update the two tracking portfolios.(For background on this approach, check out [More...]

CLOSING GULP

Tue, 13 Nov 2007 07:08:07 GMT

The DJIA finally succumbed and gave up the 13k number while the NAZ/NDX was crushed yet again as the NAZ crossed under the 2,600 mark.I was hoping the that 1,450 on the SPX would hold as it did the last few days but nope, as the major indexes closed at/near their lows of the day. Not sure where the next area of support is but lets say for now near the 1,420 area.Major weakness in the recent winners such as commodities and tech, and strength...[More...]

The Dallas Morning News Mariana Greene Column: Butterfly Plants for Sale Saturday at Texas Discovery Gardens

Thu, 30 Oct 2008 14:52:00 GMT

Oct. 30--It's so much easier for perennials to get their roots firmly ensconced in a new home if they make their move in autumn instead of spring or early summer.
That's my excuse for going plant shopping Saturday at Texas Discovery Gardens in Fair Park.
The perennials I've targeted on TDG's sale list not only are good for butterflies, several also are hard to find in retail nurseries.

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Fitch Rates TransDigm's New Senior Subordinated Notes 'B-/RR5'; Affirms IDR at 'B'

Fri, 02 Oct 2009 01:46:00 GMT

IDR affirmed at 'B';
After accounting for the $425 million of new subordinated notes due 2014, the ratings cover approximately $1.8 billion of outstanding debt.
Concerns relate to the company's willingness to increase leverage for acquisitions; the size or number of potential acquisitions going forward and the risks of integrating them successfully; TDG's exposure to the commercial aerospace industry which is experiencing soft demand (aftermarket accounted for 60% of fiscal year 2008 [FY08] sales); weak collateral support for the secured bank facility; and the possibility of a change to cost-based pricing for some government related work.

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Trinidad Drilling Ltd. - Webcast from the Peters & Co. 2009 North American Oil & Gas Conference - September 17, 2009

Tue, 15 Sep 2009 12:25:00 GMT

CALGARY, Sept. 15 /CNW/ - Notification of Peters & Co. 2009 North American Oil & Gas Conference Webcast: Trinidad Drilling Ltd. (TSX: TDG)[More...]

Trinidad Drilling Ltd. reports second quarter and year-to-date 2009 results; solid results combined with strategic growth and improved financial flexibility

Tue, 11 Aug 2009 12:25:00 GMT

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ TSX SYMBOL: TDG and TDG.DB[More...]

TransDigm Acquires Fuel and Pneumatic Valve Product Line From Woodward Governor Company

Mon, 10 Aug 2009 17:55:00 GMT

TransDigm Group Incorporated announced today that it has acquired certain aerospace related assets from a wholly-owned subsidiary of Woodward Governor Company for approximately $48 million in cash. Woodward recently acquired this business as part of its acquisition of HR Textron, Inc. The product line has expected calendar 2009 revenues of approximately $20 million with almost half coming from the aftermarket.[More...]

Trinidad Drilling Ltd. - Second Quarter Results Webcast - August 11, 2009

Fri, 07 Aug 2009 11:55:00 GMT

CALGARY, Aug. 7 /CNW/ - Notification of Second Quarter Results Webcast: Trinidad Drilling Ltd. (TSX: TDG) Second Quarter Results Webcast[More...]

TransDigm Group Reports Record Fiscal 2009 Third Quarter Results

Tue, 04 Aug 2009 17:45:00 GMT

Increase in fiscal 2009 earnings outlook
Net income for the quarter rose 15.0% to $41.4 million, or $0.82 per share, compared with $36.0 million, or $0.72 per share, in the comparable quarter a year ago.
Adjusted net income for the prior-year quarter excluded $1.5 million, net of tax, or $0.03 per share, of non-cash compensation costs and acquisition-related expenses.

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TransDigm Group Reports Record Fiscal 2009 Third Quarter Results

Tue, 04 Aug 2009 10:56:00 GMT

TransDigm Group Incorporated , a leading global designer, producer and supplier of highly engineered aircraft components, today reported results for the fiscal third quarter ended June 27, 2009. Highlights for the third quarter include:[More...]

TransDigm Announces the Acquisition of Acme Aerospace

Mon, 27 Jul 2009 12:02:00 GMT

TransDigm Group Incorporated announced today that it has acquired the stock of Acme Aerospace, Inc. from a subsidiary of Actuant Corporation for approximately $40 million in cash. Acme supplies proprietary, highly engineered components to the commercial aerospace industry. Acme has annual revenues of approximately $18 million and employs approximately 90 people in its Tempe, Arizona facility.[More...]

TransDigm Second Quarter Earnings Report and Conference Call Set for Tuesday, August 4, 2009

Thu, 23 Jul 2009 12:33:00 GMT

TransDigm Group Incorporated (NYSE: TDG) today said it will report fiscal 2009 third quarter earnings before the market opens on Tuesday, August 4, 2009.[More...]