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Aar Corp (AIR) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, May 31, 2016

Aar Corp

CIK: 1750 Ticker: AIR

Exhibit 99.1

 

For immediate release

 

AAR REPORTS FOURTH QUARTER AND FISCAL YEAR 2016 RESULTS

 

·           Fourth quarter sales of $458.2 million, up 10.2% from Q4 FY2015

·           Fourth quarter diluted earnings per share from continuing operations of $0.32

·           Fourth quarter cash flow from operations of $46.0 million

·           Full year sales of $1.66 billion, up 4.3% from full year Fiscal 2015

·           Fiscal Year 2017 guidance: consolidated sales of $1.7 billion to $1.8 billion and diluted earnings per share from continuing operations of $1.30 to $1.40

 

WOOD DALE, ILLINOIS (July 12, 2016) — AAR CORP. (NYSE: AIR) today reported fourth quarter Fiscal Year 2016 consolidated sales of $458.2 million and income from continuing operations of $11.2 million, or $0.32 per diluted share.  For the fourth quarter of the prior fiscal year, the Company reported sales of $415.8 million and loss from continuing operations of $82.1 million, or $2.12 per diluted share.

  The prior year period included pre-tax restructuring charges of approximately $74.5 million and a pre-tax make whole premium of $45.6 million incurred upon the early redemption of high-yield notes in that period.

 

“Fourth quarter performance was in line with our expectations as the Company benefitted from recent investments and strong execution,” said David P. Storch, Chairman, President, and Chief Executive Officer of AAR CORP.  “In Aviation Services, fourth quarter sales grew 11.2% from last year to $400.4 million due to strength across the segment, while in Expeditionary Services, sales grew 4.0% to $57.8 million, which included the successful launch of our Falkland Islands search and rescue program.  Operating cash flow for the quarter was a robust $46.0 million, nearly four times net income of $12.0 million.”

 

The Aviation Services segment reported fourth quarter gross profit of $63.1 million and gross profit margin of 15.8%.  The Expeditionary Services segment, which remains under market pressure, reported fourth quarter gross profit of $1.1 million and gross profit margin of 1.9%.

 

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The following information was filed by Aar Corp (AIR) on Tuesday, July 12, 2016 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 Comprehensive Income (loss)
Consolidated Statements Of Comprehensive Income (loss) (parenthetical)
Consolidated Statements Of Income
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (details)
Accumulated Other Comprehensive Loss (tables)
Acquisition (details)
Acquisitions
Acquisitions (tables)
Aircraft Portfolio
Aircraft Portfolio (tables)
Aircraft Portfolio - Aircraft Information (details)
Aircraft Portfolio - Joint Venture (details)
Allowance For Doubtful Accounts
Allowance For Doubtful Accounts (details)
Allowance For Doubtful Accounts (tables)
Business Segment Information
Business Segment Information (tables)
Business Segment Information - Geographic Data (details)
Business Segment Information - Recon Of Gross Profit To Income (details)
Business Segment Information - Sales By Product And Services (details)
Business Segment Information - Segment Data (details)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Aircraft Sale-leaseback (details)
Commitments And Contingencies - Operating Lease, Rental Expense, Purchase Obligations (details)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (details)
Derivative Instruments And Hedging Activities - Impact On Statement Of Income (details)
Discontinued Operations
Discontinued Operations (details)
Discontinued Operations (tables)
Earnings Per Share
Earnings Per Share (details)
Earnings Per Share (tables)
Employee Benefit Plans
Employee Benefit Plans (details)
Employee Benefit Plans (tables)
Employee Benefit Plans - Future Benefit Payments And Defined Contribution Plan (details)
Employee Benefit Plans - Reconciliation Of Pension Assets (details)
Financing Arrangements
Financing Arrangements (details)
Financing Arrangements (tables)
Income Taxes
Income Taxes (details)
Income Taxes (tables)
Legal Proceedings
Other Noncurrent Assets
Other Noncurrent Assets (details)
Other Noncurrent Assets (tables)
Other Noncurrent Assets - License Fees (details)
Selected Quarterly Data (unaudited)
Selected Quarterly Data (unaudited) (details)
Selected Quarterly Data (unaudited) (tables)
Stock-based Compensation
Stock-based Compensation (details)
Stock-based Compensation (tables)
Stock-based Compensation - Restricted Stock (details)
Stock-based Compensation - Shareholders' Rights Plan (details)
Stock-based Compensation - Stock Options (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies - Financial Instruments (details)
Summary Of Significant Accounting Policies - Goodwill (details)
Summary Of Significant Accounting Policies - Intangibles (details)
Summary Of Significant Accounting Policies - Inventory (details)
Summary Of Significant Accounting Policies - New Accounting Pronouncements (details)
Summary Of Significant Accounting Policies - Property, Plant And Equipment (details)
Summary Of Significant Accounting Policies - Revenue Recognition (details)
Summary Of Significant Accounting Policies - Supplement Info Cash Flow (details)
Summary Of Significant Accounting Policies - Treasury Stock (details)
Ticker: AIR
CIK: 1750
Form Type: 10-K Annual Report
Accession Number: 0001047469-16-014299
Submitted to the SEC: Wed Jul 13 2016 3:13:34 PM EST
Accepted by the SEC: Wed Jul 13 2016
Period: Tuesday, May 31, 2016
Industry: Aircraft And Parts

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