Last10K.com

Aar Corp (AIR) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, May 31, 2017

Aar Corp

CIK: 1750 Ticker: AIR

Exhibit 99.1

 

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 year’s 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-

 

1


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 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 2017 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 (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 - 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 - Reconcile 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 - Equipment Under Leases (details)
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 - Property, Plant And Equipment And Supplemental Information On Cash Flows (details)
Summary Of Significant Accounting Policies - Revenue Recognition (details)
Summary Of Significant Accounting Policies - Treasury Stock (details)
Ticker: AIR
CIK: 1750
Form Type: 10-K Annual Report
Accession Number: 0001047469-17-004528
Submitted to the SEC: Wed Jul 12 2017 3:26:07 PM EST
Accepted by the SEC: Wed Jul 12 2017
Period: Wednesday, May 31, 2017
Industry: Aircraft And Parts

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/air/0001047469-17-004528.htm