TransDigm Group INC Annual Report (Amendment), Year Ended Sep 30, 2009

TransDigm Group Incorporated (TDG) filed an Amendment No. 1 to its Form 10-K for the fiscal year ended September 30, 2009, primarily to restate its earnings per share (EPS) calculations. This amendment reflects the adoption of the two-class method for calculating EPS to account for 'participating securities,' such as vested stock options with dividend rights. While the company initially reported effective internal controls, this amendment identifies a material weakness related to the EPS calculation, leading to a revised conclusion that internal controls were not effective as of the fiscal year-end. Financially, the company demonstrated consistent revenue growth over the preceding five fiscal years, culminating in $761.6 million in net sales for FY 2009. Profitability also saw a strong upward trend, with net income reaching $162.9 million in FY 2009, up significantly from $34.7 million in FY 2005. The company's acquisition strategy is evident, with numerous acquisitions listed throughout the period, contributing to its growth. Despite the material weakness identified in internal controls, the underlying financial performance appears robust, with strong cash flow from operations and a growing equity base.