TransTechnology Reports 12% Drop in 3rd Quarter

TransTechnology’s earnings fell 12% in the third quarter that ended Dec. 31 to $2.9 million, or 57 cents a share. Revenue rose 13% to $60.2 million.

The Sherman Oaks aerospace company attributed the drop in earnings to lower results at its Breeze-Eastern/Aerospace business. The unit, which makes chains that are used to tie down jet fighters on aircraft carriers, completed a contract a year earlier. However, TransTechnology said its backlog of orders is a healthy $121 million.

For the nine months, TransTechnology’s earnings fell 34% to $5.6 million, or $1.08 a share, as revenue climbed 14% to $163.0 million.