Last10K.com

Aar Corp (AIR) SEC Filing 10-K Annual report for the fiscal year ending Friday, May 31, 2013

Aar Corp

CIK: 1750 Ticker: AIR

Exhibit 99.1

 

For immediate release

 

AAR Reports Fourth Quarter and Fiscal Year 2013 Results

 

·                  Fourth quarter and full year diluted EPS of $0.50 and $1.85, respectively, before adjustment for KC-10 program charge, exceed guidance

·                  Fourth quarter GAAP diluted EPS of $0.01, after adjustment for the charge

·                  Full year sales up 3.5% to a record $2.14 billion

·                  Full year cash flow from operations of $163 million, free cash flow of $125 million

·                  2014 guidance reflects expectation for sustained growth and profitability

 

WOOD DALE, Ill., July 25, 2013 /PRNewswire/ — AAR CORP. (NYSE: AIR), a leading, global aviation and aerospace company, today reported fourth quarter and full fiscal year 2013 consolidated results.  Fourth quarter sales were $553.8 million and adjusted diluted earnings per share were $0.50, which grew 11% versus the year-ago level of $0.45 per diluted share, excluding charges.

 

“We are pleased with our performance in the fourth quarter and for the full year as we drove record levels of annual sales and free cash flow. In addition, our fourth quarter and full year diluted earnings per share on an adjusted basis were better than expected,” said David P. Storch, Chairman and Chief Executive Officer of AAR CORP.  “We finished the year with momentum in our Aviation Services segment as our revenue, up 7% in the fourth quarter, reflected continued strength in the commercial market and demand for our airlift capability.  Our Technology Products segment declined as anticipated, with a strong performance at our Telair commercial cargo systems unit offset by expected softer demand for our Mobility Systems products.  We continue to create value for shareholders by growing our business, increasing margins, maintaining a healthy dividend, opportunistically repurchasing shares and generating strong cash flow.”

 

Fourth Quarter 2013 Results

 

Fourth quarter consolidated sales were $553.8 million versus the prior year level of $563.3 million.  Sales in the Aviation Services segment increased 7% to $417.2 million, driven by growth in the Company’s commercial supply chain business, continued strength in demand for the Company’s airlift services and the delivery of one aircraft to the Colombian Air Force (a second aircraft has been delivered in the first quarter of our fiscal 2014).  Fourth quarter sales in the Technology Products segment declined 21% to $136.6 million, largely as a result of expected declines in delivery of mobility products for the defense market, partially offset by strength in commercial cargo systems.

 

1


The following information was filed by Aar Corp (AIR) on Thursday, July 25, 2013 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.

View differences made from one year to another to evaluate Aar Corp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Aar Corp.

Continue

Assess how Aar Corp's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Aar Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2013 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

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 Comprehensive Income
Consolidated Statements Of Comprehensive Income (parenthetical)
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)
Program Development Costs
Program Development Costs (details)
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)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Ticker: AIR
CIK: 1750
Form Type: 10-K Annual Report
Accession Number: 0001047469-13-007797
Submitted to the SEC: Thu Jul 25 2013 9:33:58 PM EST
Accepted by the SEC: Fri Jul 26 2013
Period: Friday, May 31, 2013
Industry: Aircraft And Parts

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/air/0001047469-13-007797.htm