Triumph Group Inc.’s TGI adjusted earnings from continuing operations for fourth-quarter fiscal 2016 (ended Mar 31, 2016) came in at $1.32 per share, missing the Zacks Consensus Estimate of $1.49 by 11.4%. Reported earnings also fell 22.8% from $1.71 per share a year ago.On a GAAP basis, the company reported a loss of $21.93 per share, as against earnings of $1.66 per share in the prior-year quarter. Net pre-tax charges totaling $1.305 billion led to the difference between reported loss and adjusted earnings .Fiscal 2016 adjusted earnings came in at $5.34 per share and, on a GAAP basis, it was a loss of $21.21 per share.Total RevenueIn the reported quarter, net sales were $1,057.8 million, missing the Zacks Consensus Estimate of $1,011 million by 4.6%. The top line also declined 2.1% year over year.Moreover, organic sales declined 3% primarily due to rate reductions on key Aerostructures programs.Fiscal 2016 revenues were $3,886.1 million, down 0.1% year over year. Organic sales declined 10%.Despite missing estimates, shares were up 7.41% as investors seemed to be pleased with the company completing its comprehensive review of operations. The review focused on enhancing the company’s operational performance, identifying organic growth opportunities, and increasing the facility footprint.Operational HighlightsIn fourth-quarter fiscal 2016, the company slipped into an operating loss of $1,182.8 million from an operating income of $140.7 million in the prior year.Quarterly Segment PerformanceAerostructures: Segment sales were $657.5 million, down from $705.4 million in the year-ago quarter. Organic sales were down 7% primarily due to lower production rate of the 747-8 and G450/550 programs. Operating loss was $1,221 million as against an income of $86.4 million in the year-ago quarter.Aerospace Systems: Segment sales increased 6.5% year over year to $320.7 million. Organic sales for the quarter were up 4% from the prior year. Operating income was $66.4 million, up 13.3% year over year from the year-ago level of $58.6 million.Aftermarket Services: Segment revenues improved 4.1% to $84.7 million in the reported quarter. All of it came from organic sales. The segment reported an operating loss of $6.5 million, which includes an inventory charge of $21.1 million.Financial PositionAs of Mar 31, 2016, Triumph’s cash balance was $21 million compared with $32.6 million as of Mar 31, 2015. As of Dec 31, 2016, long-term debt (excluding current portion) was $1,374.9 million compared with $1,326.3 million as of Mar 31, 2015.Cash flow from operations during the quarter was $257.8 million. The company spent $16.5 million as capital expenditure in the quarter compared with $24.8 million in the comparable period last year.GuidanceFor fiscal 2017, the company expects revenues to be approximately $3.6 billion to $3.7 billion. Earnings per share for fiscal 2017 are expected to be $4.90–$5.10 per share.Triumph Group also expects to generate sufficient free cash flow to fund restructuring efforts during fiscal 2017.Peer ReviewsSpirit AeroSystems Holdings, Inc. SPR posted first-quarter 2016 adjusted earnings of $1.29 per share, beating the Zacks Consensus Estimate of $1.06 by 21.7%. Earnings were also higher than the year-ago figure of $1.00 by 29%.Rockwell Collins Inc. COL reported financial results for second-quarter fiscal 2016 ended Mar 31, 2016. The company’s adjusted earnings per share of $1.30 surpassed the Zacks Consensus Estimate of $1.29 by 0.8%. Reported earnings also improved 6.6% from the adjusted profit level of $1.22 per share reported a year ago.Raytheon Company RTN reported first-quarter 2016 adjusted earnings from continuing operations of $1.43 per share, beating the Zacks Consensus Estimate of $1.36 by 5.1%. However, earnings decreased 19.7% from the year-ago figure of $1.78.Zacks RankCurrently, Triumph carries a Zacks Rank #4 (Sell).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ROCKWELL COLLIN (COL): Free Stock Analysis Report TRIUMPH GRP INC (TGI): Free Stock Analysis Report SPIRIT AEROSYS (SPR): Free Stock Analysis Report RAYTHEON CO (RTN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research