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Mercury Systems Reports Fourth Quarter And Fiscal Year 2020 Results

1:31am IST

Aug 4 (Reuters) - Mercury Systems Inc ::MERCURY SYSTEMS REPORTS FOURTH QUARTER AND FISCAL YEAR 2020 RESULTS.SEES Q1 GAAP EARNINGS PER SHARE $0.18 TO $0.22.Q4 ADJUSTED EARNINGS PER SHARE $0.72.Q4 GAAP EARNINGS PER SHARE $0.49.Q4 REVENUE $217.4 MILLION VERSUS REFINITIV IBES ESTIMATE OF $212.6 MILLION.SEES Q1 ADJUSTED EARNINGS PER SHARE $0.43 TO $0.47.SEES FY 2021 ADJUSTED EARNINGS PER SHARE ABOUT $2.15 TO $2.26.SEES FY 2021 GAAP EARNINGS PER SHARE $1.23 TO $1.34.SEES Q1 REVENUE $190 MILLION TO $205 MILLION.SEES FY 2021 REVENUE $860 MILLION TO $885 MILLION.Q4 EARNINGS PER SHARE ESTIMATE $0.57 -- REFINITIV IBES DATA.Q1 EARNINGS PER SHARE VIEW $0.51, REVENUE VIEW $200.3 MILLION -- REFINITIV IBES DATA.FY2021 EARNINGS PER SHARE VIEW $2.36 -- REFINITIV IBES DATA.

Triumph Group Reports First Quarter Fiscal 2021 Results

1:31am IST

Aug 4 (Reuters) - Triumph Group Inc ::TRIUMPH GROUP REPORTS FIRST QUARTER FISCAL 2021 RESULTS.Q1 ADJUSTED LOSS PER SHARE $0.19.Q1 LOSS PER SHARE $5.35.Q1 SALES $495.1 MILLION VERSUS REFINITIV IBES ESTIMATE OF $459.7 MILLION.Q1 EARNINGS PER SHARE ESTIMATE $-0.22 -- REFINITIV IBES DATA.SEES FY SALES ABOUT $1.8 BILLION TO $1.9 BILLION.SEES Q1 SALES $1.8 BILLION TO $1.9 BILLION.ANTICIPATES THAT TRENDS IN CASH USED IN OPERATIONS THAT WERE EXPERIENCED IN Q1 OF FISCAL 2021 TO CONTINUE.EXPECTS CASH USED IN OPERATIONS AND FREE CASH USE TO BE MODERATELY HIGHER FOR FULL FISCAL YEAR.

Kratos Reports Second Quarter 2020 Financial Results

1:30am IST

Aug 4 (Reuters) - Kratos Defense and Security Solutions Inc ::KRATOS REPORTS SECOND QUARTER 2020 FINANCIAL RESULTS.Q2 ADJUSTED EARNINGS PER SHARE $0.08.Q2 REVENUE $170.4 MILLION VERSUS REFINITIV IBES ESTIMATE OF $165.2 MILLION.Q2 LOSS PER SHARE $0.01.SEES Q3 2020 REVENUE $195 MILLION TO $205 MILLION.SEES FY 2020 REVENUE $740 MILLION TO $780 MILLION.Q2 EARNINGS PER SHARE ESTIMATE $0.06 -- REFINITIV IBES DATA.Q3 REVENUE VIEW $197.4 MILLION -- REFINITIV IBES DATA.FY2020 REVENUE VIEW $746.6 MILLION -- REFINITIV IBES DATA.

Spirit Aero Now Expects To Be Cash Flow Positive In 2022 - Conf Call

Tuesday, 4 Aug 2020

Aug 4 (Reuters) - Spirit AeroSystems Holdings Inc ::SPIRIT AEROSYSTEMS CEO SAYS IN MID-JULY, CO MADE DECISION TO NOT RENEW THE SAN ANTONIO, TEXAS FACILITY LEASE - CONF CALL.SPIRIT AEROSYSTEMS CEO SAYS SHIFTING 737 SUBASSEMBLY WORK OUT OF CO'S MAIN PRODUCTION FACILITY INTO DIFFERENT LOCATIONS THAT ENABLE MORE LEAN AND EFFICIENT OPERATIONS.SPIRIT AEROSYSTEMS CEO SAYS MOVING WING BOX OF THE 737 FUSELAGE TO TULSA FACILITY AND THE 737 FORWARD FUSELAGE INTO A FORWARD FUSELAGE CENTER OF EXCELLENCE ON CO'S WICHITA CAMPUS.SPIRIT AEROSYSTEMS CEO SAYS DEVELOPING A NEW AUTOMATED PRODUCTION LINE TO IMPROVE THE ASSEMBLY OF SINGLE AISLE AIRPLANE FLOOR BEAMS; THE PROJECT IS ESTIMATED TO TAKE CURRENT CYCLE TIME OF 7 DAYS PER ASSEMBLY DOWN TO JUST HOURS.SPIRIT AEROSYSTEMS CEO SAYS CONTINUE TO SEE VALUE IN BOTH THE ASCO AND BOMBARDIER AEROSTRUCTURES DEALS; SAYS CO REMAINS ENGAGED IN DISCUSSION WITH THE PARTIES ON CLOSURE CONDITIONS.SPIRIT AEROSYSTEMS CFO SAYS CO HAS SUFFICIENT LIQUIDITY TO FUND PENDING ACQUISITIONS AND RUN CO'S OPERATIONS OVER THE NEXT 12 MONTHS.SPIRIT AEROSYSTEMS CFO SAYS CASH FLOW USAGE IS EXPECTED TO IMPROVE IN THE THIRD AND FOURTH QUARTERS, BUT CO CONTINUES TO EXPECT TO USE CASH FOR 2020.SPIRIT AEROSYSTEMS CEO SAYS NOW EXPECTS TO BE CASH FLOW POSITIVE IN 2022 INSTEAD OF 2021 AS ESTIMATED PREVIOUSLY.SPIRIT AEROSYSTEMS CEO SAYS WILL LAG BOEING ON THE 737 MAX PRODUCTION OVER THE NEXT 24 MONTHS.

Spirit Aerosystems Announces Amendment To Second Amended And Restated Credit Agreement

Monday, 3 Aug 2020

Aug 3 (Reuters) - Spirit AeroSystems Holdings Inc ::SPIRIT AEROSYSTEMS HOLDINGS - ON JULY 31, CO, UNITS, ENTERED INTO AN AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT.SPIRIT AEROSYSTEMS - MAIN PURPOSE FOR ENTERING INTO AMENDMENT WAS TO OBTAIN COVENANT RELIEF WITH RESPECT TO EXPECTED BREACHES OF FIRST LIEN LEVERAGE.SPIRIT AEROSYSTEMS - MAIN PURPOSE FOR ENTERING INTO AMENDMENT WAS TO OBTAIN COVENANT RELIEF WITH RESPECT TO EXPECTED INTEREST COVERAGE RATIOS.SPIRIT AEROSYSTEMS - AS A CONDITION TO COVENANT RELIEF, REDUCED SIZE OF REVOLVER BY $300 MILLION TO $500 MILLION.SPIRIT AEROSYSTEMS - USED $100 MILLION OF CASH ON HAND TO PREPAY TERM LOAN, DELAYED DRAW TERM LOAN ON A PRO RATA BASIS.

MTU Aero Engines CFO Says Currently Working On Order Backlog, Have Not Seen Cancellations Yet

Monday, 3 Aug 2020

Aug 3 (Reuters) - MTU Aero Engines AG ::MTU AERO ENGINES CEO SAYS WE WILL LIKELY REACH 2019 LEVEL IN SHORT- AND MID-HAUL BUSINESS IN 2023, LONG-HAUL IN 2024.MTU AERO ENGINES CFO SAYS WE ARE CURRENTLY WORKING ON ORDER BACKLOG, HAVE NOT SEEN CANCELLATIONS YET.

Senior Plc Says HY Results Impacted By COVID-19 And 737 MAX, Suspends Interim Dividend

Monday, 3 Aug 2020

Aug 3 (Reuters) - Senior PLC ::RESULTS SIGNIFICANTLY IMPACTED BY CORONAVIRUS (COVID-19) AND 737 MAX.H1 ADJUSTED OPERATING PROFIT 9.0 MILLION STG VERSUS 46.2 MILLION STG YEAR AGO.H1 REVENUE 409 MILLION STG VERSUS 580.4 MILLION STG YEAR AGO.NET DEBT/EBITDA OF 1.6X: HEADROOM INCREASED TO £162M.IN AEROSPACE, FOR SIX MONTHS ENDED 30 JUNE 2020, SALES WERE 31.3% LOWER THAN H1 2019 ON A CONSTANT CURRENCY BASIS.NOW EXPECT TOTAL RESTRUCTURING CHARGE TO BE AROUND £35M, AN INCREASE FROM £23M WE HAD ANNOUNCED AT OUR FULL YEAR 2019 RESULTS.BOARD BELIEVES IT IS NOT APPROPRIATE TO PAY AN INTERIM DIVIDEND..GUIDANCE FOR 2020 REMAINS SUSPENDED.

Icelandair Says Negotiations With Stakeholders To Initiate Offering Of New Shares In Final Stages

Saturday, 1 Aug 2020

July 31 (Reuters) - Icelandair Group Hf ::ICELANDAIR GROUP - NEGOTIATING WITH STAKEHOLDERS IN ORDER TO BE ABLE TO INITIATE OFFERING OF NEW SHARES AND COMPLETE A FINANCIAL RESTRUCTURING OF CO.NEGOTIATIONS ARE IN FINAL STAGES.FULLY DOCUMENTED AGREEMENTS HAVE BEEN COMPLETED WITH MAJORITY OF CREDITORS.ICELANDAIR GROUP - NEGOTIATIONS WITH REMAINING CREDITORS ARE AT AN ADVANCED STAGE AND FINAL AGREEMENTS ARE EXPECTED TO BE FULLY DOCUMENTED NEXT WEEK.NEGOTIATIONS WITH CREDITORS HAVE FOCUSED ON RESTRUCTURING CASH OUTFLOWS TO MATCH EXPECTED FUTURE CASH INFLOWS.ICELANDAIR- CO HAS ALREADY COMPLETED LONG-TERM COLLECTIVE-BARGAINING AGREEMENTS WITH PILOT, CABIN CREW, AND AIRCRAFT MAINTENANCE UNIONS.ICELANDAIR- SEES RECEIVING FURTHER COMPENSATION FOR LOSS DUE TO GROUNDING, CHANGES WILL BE MADE TO DELIVERY SCHEDULE OF FUTURE BOEING 737-MAX ORDERS.

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