Triumph Group shares up on better results, strong outlook

(Reuters) - Shares of Triumph Group Inc (TGI.N: Quote, Profile, Research, Stock Buzz) rose as much as 16 percent Friday, a day after the aircraft components maker posted higher quarterly profit above market estimates, helped by better margins at its aerospace systems unit, and forecast full-year earnings above analysts' view.

The company said its strong backlog would allow it to offset anticipated reductions in airline capacity.

Triumph forecast earnings to exceed $5.25 a share, on revenue ranging between $1.25 billion and $1.35 billion, for fiscal 2009.

Analysts were expecting earnings of $5.15 a share, excluding items, on revenue of $1.31 billion for the period, according to Reuters Estimates.

The company posted first-quarter earnings from continuing operations of $26.0 million, or $1.54 a share, compared with $17.8 million, or $1.04 a share, a year earlier.

Net income for the quarter rose 78 percent to $24.8 million, or $1.47 a share. Sales rose 17 percent to $320.6 million.

Analysts on average had expected earnings of $1.15 a share, excluding special items, on revenue of $311.3 million.

Sales in the aerospace systems segment rose 19 percent to $63.0 million. Operating margin increased 28 percent from last year's eighteen percent.

Shares of the company were up $6.58 at $51.74 in morning trade on the New York Stock Exchange. They touched a high of $52.24 in early trade.

(Reporting by Amulya Nagaraj in Bangalore; Editing by Gopakumar Warrier)