UPDATE: TransDigm Posts Upbeat FQ3 Results, Lifts Full-Year Forecast

TransDigm Group TDG posted upbeat fiscal third-quarter results and lifted its outlook for the year. TransDigm now projects FY12 adjusted earnings between $6.58 and $6.70 per share, versus its earlier view between $6.23 and $6.57 per share. TransDigm's quarterly net income surged to $90.4 million, or $1.68 per share, versus $56.3 million, or $1.06 per share, in the year-ago period. Excluding items, TransDigm earned $1.88 per share. Its sales climbed 42% to $461.7 million. However, analysts were expecting earnings of $1.70 per share on revenue of $452.6 million. TransDigm shares closed at $122.98 yesterday.