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Aar Corp (AIR) SEC Filing 10-K Annual report for the fiscal year ending Thursday, May 31, 2012

Aar Corp

CIK: 1750 Ticker: AIR

Exhibit 99.1

 

NEWS

 

For immediate release

 

AAR REPORTS FOURTH QUARTER AND FISCAL YEAR 2012 RESULTS

 

·      Fourth quarter sales of $563 million, up 15.5% year-over-year

·      Fourth quarter diluted earnings per share of $0.45 before special items, $0.32 on a reported basis

·      Fourth quarter cash flow from operations of $76 million

·      Fiscal year 2012 sales of $2.065 billion, up 14.4% year-over-year

·      Fiscal year 2012 diluted earnings per share of $1.65

 

WOOD DALE, ILLINOIS (July 17, 2012) — AAR (NYSE: AIR) today reported fourth quarter fiscal 2012 results that were in line with the preliminary results released on June 14, 2012. Fourth quarter sales were $563.3 million and diluted earnings per share were $0.45 before the effects of special items and $0.32 after the effects of the special items. For the fourth quarter of last fiscal year, the Company reported sales of $487.8 million and $0.52 diluted earnings per share.

 

For the Company’s fiscal year 2012, sales were a record $2.1 billion, a 14.4% increase versus the prior year, and net income attributable to AAR was $67.7 million, or $1.65 per diluted share, compared with sales of $1.8 billion, net income attributable to AAR of $69.8 million and diluted earnings per share of $1.73 in the prior fiscal year.

 

Sales to commercial customers increased 48.5% compared to the fourth quarter of last year and 32.4% in fiscal 2012 compared to fiscal 2011. Fourth quarter sales growth included 16.5% organic sales growth to commercial customers primarily due to strength in the Company’s Aviation Supply Chain and Maintenance Repair and Overhaul segments. The balance of the commercial sales growth came primarily from the newly acquired businesses, Telair and Nordisk, which were acquired by the Company in early December 2011.  Sales to commercial customers represented 60% of total sales for the fourth quarter of fiscal 2012.

 

Sales to government and defense customers decreased 13.5% in the fourth quarter and 1.9% for the fiscal year.  The sales decline was primarily due to lower program activity at the Company’s defense logistics business and the fourth quarter fiscal 2012 adjustment to the KC10 support contract.

 

Commenting on fourth quarter results in the Company’s commercial markets, David P. Storch, Chairman and Chief Executive Officer of AAR CORP. stated, “We had exceptional sales growth in our

 


The following information was filed by Aar Corp (AIR) on Wednesday, July 18, 2012 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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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Equity
Consolidated Statements Of Income
Acquisitions
Acquisitions (details)
Acquisitions (tables)
Aircraft Portfolio
Aircraft Portfolio (details 2)
Aircraft Portfolio (details)
Aircraft Portfolio (tables)
Allowance For Doubtful Accounts
Allowance For Doubtful Accounts (details)
Allowance For Doubtful Accounts (tables)
Business Segment Information
Business Segment Information (details 2)
Business Segment Information (details 3)
Business Segment Information (details 4)
Business Segment Information (details)
Business Segment Information (tables)
Commitments And Contingencies
Commitments And Contingencies (details 2)
Commitments And Contingencies (details)
Commitments And Contingencies (tables)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (details 2)
Derivative Instruments And Hedging Activities (details)
Derivative Instruments And Hedging Activities (tables)
Earnings Per Share
Earnings Per Share (details)
Earnings Per Share (tables)
Employee Benefit Plans
Employee Benefit Plans (details 2)
Employee Benefit Plans (details 3)
Employee Benefit Plans (details)
Employee Benefit Plans (tables)
Equipment On Long-term Lease
Equipment On Long-term Lease (details)
Financing Arrangements
Financing Arrangements (details)
Financing Arrangements (tables)
Gain On Sale Of Product Line
Gain On Sale Of Product Line (details)
Income Taxes
Income Taxes (details)
Income Taxes (tables)
Other Noncurrent Assets
Other Noncurrent Assets (details 2)
Other Noncurrent Assets (details)
Other Noncurrent Assets (tables)
Restructuring And Impairment Charges
Restructuring And Impairment Charges (details)
Selected Quarterly Data (unaudited)
Selected Quarterly Data (unaudited) (details)
Selected Quarterly Data (unaudited) (tables)
Stock-based Compensation
Stock-based Compensation (details 2)
Stock-based Compensation (details 3)
Stock-based Compensation (details 4)
Stock-based Compensation (details)
Stock-based Compensation (tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (details 2)
Summary Of Significant Accounting Policies (details 3)
Summary Of Significant Accounting Policies (details 4)
Summary Of Significant Accounting Policies (details 5)
Summary Of Significant Accounting Policies (details 6)
Summary Of Significant Accounting Policies (details 7)
Summary Of Significant Accounting Policies (details 8)
Summary Of Significant Accounting Policies (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Ticker: AIR
CIK: 1750
Form Type: 10-K Annual Report
Accession Number: 0001047469-12-007300
Submitted to the SEC: Thu Jul 19 2012 5:05:47 PM EST
Accepted by the SEC: Thu Jul 19 2012
Period: Thursday, May 31, 2012
Industry: Aircraft And Parts

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