Triumph remains confident despite Boeing 747 cutback

Jul 30, 2013 | 01:09 PM | Frank Haflich

Tags  Triumph Group, M. David Kornblatt, Jeffry D. Frisby, Boeing 747, earnings report, Frank Haflich

LOS ANGELES — Triumph Group Inc. said it is prepared for additional cuts in its largest aircraft program even as it maintains confidence in the plane’s long-term future.

M. David Kornblatt, Triumph’s executive vice president and chief financial officer, said a cutback in the monthly build rate of Boeing Co.’s 747 would decrease 2014 earnings by about 10 cents per share, according to a transcript of the company’s quarterly earnings conference call with securities analysts. The Berwyn, Pa.-based producer of aerospace components and systems posted diluted per-share earnings of $1.50 for the three months ended....

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