Below is transcript of the TransDigm Group Incorporated (NYSE:TDG)’s First Quarter 2015 Earnings Conference Call, held on January 27, 2015, at 11:00 a.m. EST. Stockbridge Partners, Pennant Capital Management and Tiger Global Management Llc was among TransDigm Group Incorporated (NYSE:TDG) shareholders at the end of the previous quarter.
TransDigm Group Incorporated (NYSE:TDG) is a designer, producer and supplier of engineered aircraft components. The Components are used in commercial and military aircraft service. The Company operates in three segments: Power & Control, Airframe and Non-aviation. The Power & Control segment includes operations that develop, produce and market systems and components that provide power to or control power of the aircraft utilizing electronic, fluid, power and mechanical motion control technologies.
Company Representatives:
Nick Howley – Chairman of the Board, Chief Executive Officer
Greg Rufus – Chief Financial Officer, Executive Vice President, Secretary
Liza Sabol – Manager of Investor Relations
Analysts:
Robert Stallard – Royal Bank of Canada
Noah Poponak – Goldman Sachs
Lou Taylor – Deutsche Bank
Ken Herbert – Canaccord
Gautam Khanna – Cowen
Robert Spingarn – Credit Suisse
Michael Ciarmoli – KeyBanc
Joseph Nadol – JP Morgan.
Operator
Good day, ladies and gentlemen and welcome to the quarter one 2014 TransDigm Group Incorporated earnings conference call. My name is Sally and I will be your operator for today. At this time all participants are in listen-only mode. We will conduct a question-and-answer session towards the end of the conference. . With the any quree for the call please press *0 the operator will be happy to assist you. As a reminder, this call is being recorded for replay purposes. I would now like to turn the call over to Liza Sabol from Investor Relations. Please proceed.
Liza Sabol – Manager of Investor Relations
Thank you. I would like to thank you all that have called in today and welcome you to TransDigm’s fiscal 2015 first quarter earnings conference call. With me on the call this morning are TransDigm’s Chairman and Chief Executive Officer, Nick Howley, Chief Operating Officers, Robert S. Henderson and Kevin Stein and our Executive Vice President and Chief Financial Officer, Greg Rufus. A replay of today’s broadcast will be available for the next two weeks. Replay information is contained in this morning’s press release and on our website at transdigm.com.
Before we begin, the company would like to remind you that the statements made during this call which are not historical in fact, are forward looking statements. For further information about important factors that could cause actual results to differ materially from those expressed or implied in the forward looking statements please refer to the company’s latest filings with the SEC. These filings are available through the investors section of our website or at sec.gov. The company would also like to advise you that during the course of the call we will be referring to EBITA, specifically EBITA is defined as adjusted net income and adjusted earnings per share all of which are non gap financial measures. Please see the tables and related footnotes in the earnings release for a presentation of the most directly comparable gap measures and a reconciliation of EBITA and EBITA as defined as adjusted net income and adjusted earnings per share to those measures.
With that let me now turn the call over to Nick.
