Please wait while we load the requested 10-K report or click the link below:
For immediate release
AAR REPORTS FOURTH QUARTER AND FISCAL YEAR 2017 RESULTS
· Fourth quarter sales of $492.3 million, up 5.1% from Q4 FY2016
· Fourth quarter diluted earnings per share from continuing operations of $0.44, up 29% from Q4 FY2016; Earnings per share, including discontinued operations, of $0.62
· Full year sales of $1.77 billion, up 4.0% from the prior year
· Full year diluted earnings per share from continuing operations of $1.45, up 32% from FY2016; Full year diluted earnings per share, including discontinued operations, of $1.64
WOOD DALE, ILLINOIS (July 11, 2017) AAR CORP. (NYSE: AIR) today reported fourth quarter Fiscal Year 2017 consolidated sales of $492.3 million and income from continuing operations of $15.1 million, or $0.44 per diluted share. Fourth quarter results from continuing operations included a $2.2 million, or $0.06 per diluted share, reduction in income tax expense related to the recognition of previously reserved income tax benefits. Fourth quarter results also included approximately $4.1 million of expenses related to significantly higher legal and other costs associated with defending the INL/A contract award, personnel-related costs, and other strategic actions. For the fourth quarter of the prior fiscal year, the Company reported sales of $468.6 million and income from continuing operations of $11.8 million, or $0.34 per diluted share.
Sales in Aviation Services increased 5.2% in the quarter over last year, reflecting strong performance for our industry-leading integrated supply chain solutions and our aircraft and parts supply activities. Growth in those businesses more than offset the impact of the wind-down of the KC-10 CLS Program and one of our airframe maintenance facilities, which collectively contributed $32.8 million to the prior years sales. Expeditionary Services experienced sales growth of 4.1% as increased volumes continue to drive a recovery in our mobility business; however, these levels are still significantly below historical levels of performance for this business.
The Company recently announced significant new business wins, including the award of a $909 million fixed-price contract from the U.S. Air Force for the Landing Gear Performance-Based Logistics One program. Performance is on hold pending resolution of a protest filed by a competitor. We will provide total supply chain management, including purchasing, remanufacturing, distribution and inventory control to support Air Force requisitions received for all C-130, KC-135 and E-3 landing gear parts. We also announced the award of a multi-
The following information was filed by Aar Corp (AIR) on Tuesday, July 11, 2017 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 this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were
removed , and by Aar Corp.