CLEVELAND (AP) _ TransDigm Group Inc. (TDG) on Tuesday reported a fiscal third-quarter loss of $6 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Cleveland-based company said it had a loss of 10 cents. Earnings, adjusted for non-recurring costs and stock option expense, were $1.54 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 99 cents per share.
The aircraft components maker posted revenue of $1.02 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $1.01 billion.
TransDigm shares have dropped 22% since the beginning of the year. The stock has declined 9% in the last 12 months.