TransDigm Group increased its full-year outlook on the back of stronger fiscal third-quarter profit and sales momentum.

The aerospace and defense-components company on Tuesday said it now expects improved performance for the fiscal year thanks to continued growth across its markets.

Net sales are now anticipated to be between $10.47 billion and $10.55 billion for the year, up from $8.83 billion in the previous year. At the midpoint, that's up $150 million from prior guidance.

Net income is anticipated $60 million higher at the midpoint, an increase of 3% from the previous outlook, with a range of $2.1 billion to $2.15 billion--up from $2.07 billion reported a year earlier. On a per-share basis, the company expects income of $35.38 to $36.21, which is a 12% increase at the midpoint from the prior estimate.

On an adjusted basis, the company expects a profit range of $40.62 to $41.46 a share for the year, which at the midpoint represents a 10% increase from prior expectations.

"Our strong third-quarter performance is enabling us to increase our guidance for the full year," said Chief Executive Mike Lisman.

For the fiscal third quarter ended June 27, TransDigm posted net income of $539 million, or $9.39 a share, compared with $492 million, or $8.47 a share, in the same quarter a year earlier.

Adjusted earnings were $10.87 a share. According to FactSet, analysts were expecting $10.30 a share.

Net sales rose 23% to $2.74 billion, coming in ahead of the $2.68 billion that analysts had projected. Organic sales growth as a percentage of net sales was 13%.

Chief Executive Lisman credits growth from all three of its segments--commercial aftermarket, commercial OEM and defense--which saw another quarter of consistent growth and a sizable backlog expansion.

"All three of our major market channels again delivered double-digit growth compared to the prior year's third quarter," Lisman said.

Shares were up 2.6% to $1,319.11 in premarket trading.