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Aar Corp (AIR) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, May 31, 2011

Aar Corp

CIK: 1750 Ticker: AIR

Exhibit 99.1

 

NEWS

 

For immediate release

 

Contact:

Richard J. Poulton

 

Vice President, Chief Financial Officer

 

(630) 227-2075

 

E-mail address: rpoulton@aarcorp.com

 

AAR REPORTS RECORD FOURTH QUARTER AND FISCAL YEAR 2011 RESULTS

 

·            Fourth quarter sales of $480 million, up 32% year-over-year

·            Fiscal year 2011 sales of $1.776 billion, up 35% year-over-year

·            Fourth quarter diluted earnings per share from continuing operations of $0.55 ($0.05 per diluted share of tax benefit), up 77% year-over-year

·            Fiscal year 2011 diluted earnings per share from continuing operations of $1.81, up 50% year-over-year

·            Fourth quarter cash flow from operations of $49 million; fiscal year 2011 cash flow from operations of $109 million

 

WOOD DALE, ILLINOIS (July 6, 2011) — AAR (NYSE: AIR) today reported record sales of $479.8 million in its fourth quarter of fiscal year 2011 and record income from continuing operations of $22.7 million, or $0.55 diluted earnings per share. For the fourth quarter of its last fiscal year, the Company reported sales of $364.8 million and income from continuing operations of $11.9 million, or $0.31 diluted earnings per share.

 

For the Company’s fiscal year 2011, sales were a record $1.776 billion, a 35% increase versus the prior year, and income from continuing operations was a record $73.1 million, or $1.81 per diluted share compared with $1.21 per diluted share for fiscal year 2010.

 

Sales to commercial customers increased 25% compared to the fourth quarter of last year and 24% for all of fiscal year 2011. The sales growth was driven by improved industry conditions and market share gains. The Company saw an increase in demand for spare parts and equipment, and annual hours sold at its airframe maintenance facilities exceeded three million hours for the first time as the Company added new customers and won additional work from existing customers. Additionally, the Company experienced double-digit sales growth to international customers.

 

One AAR Place · 1100 N. Wood Dale Road · Wood Dale, Illinois 60191 USA · 1-630-227-2000 Fax 1-630-227-2101

 


The following information was filed by Aar Corp (AIR) on Thursday, July 7, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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SEC Filing Tools
Ticker: AIR
CIK: 1750
Form Type: 10-K Annual Report
Accession Number: 0001047469-11-006302
Submitted to the SEC: Wed Jul 13 2011 4:32:08 PM EST
Accepted by the SEC: Wed Jul 13 2011
Period: Tuesday, May 31, 2011
Industry: Aircraft And Parts

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