TransTechnology Reports a 26% Rise in Fourth-Quarter
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TransTechnology reported that earnings rose 26% in the fourth quarter ended March 31 to $4.6 million, or 95 cents a share. For the year, the Sherman Oaks aerospace company’s earnings climbed 53% to $10.6 million, or $2.28 a share.
TransTechnology’s revenue increased 49% to $66.1 million in the quarter compared to a year earlier. For the year, revenue climbed 88% to $212.3 million from the previous fiscal year.
TransTechnology’s earnings and revenue have climbed rapidly since last year when the company acquired Lundy Electronics, a Glen Head, N.Y.-based defense-products firm.
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