Aar Corp (AIR) SEC Filing 10-K Annual report for the fiscal year ending Friday, May 31, 2019

Exhibit 99.1

For immediate release

AAR REPORTS FOURTH QUARTER & FISCAL YEAR 2019 RESULTS

·           Fourth quarter sales of $563 million up 19% from $474 million in Q4 FY2018

·           Fourth quarter GAAP diluted earnings per share from continuing operations of $0.76

·           Fourth quarter adjusted diluted earnings per share from continuing operations of $0.64 up 33% from Q4 FY2018

·           Cash flow from operations from continuing operations of $44 million in Q4 FY2019

WOOD DALE, ILLINOIS (July 10, 2019) — AAR CORP. (NYSE: AIR) today reported fourth quarter fiscal year 2019 consolidated sales of $562.7 million and income from continuing operations of $26.6 million, or $0.76 per diluted share.  For the fourth quarter of the prior year, the Company reported sales of $473.5 million and income from continuing operations of $18.1 million, or $0.52 per diluted share.  Reported results include tax benefits which reduced income tax expense by $5.1 million, or $0.15 per diluted share, in the current quarter.  Reported results in the prior year’s quarter included tax benefits of $3.2 million, or $0.09 per diluted share.  Our adjusted diluted earnings per share from continuing operations, which excludes these tax benefits and other items, increased 33% to $0.64 in the current quarter from $0.48 last year.

Consolidated sales increased 19% over the prior year period from continued growth in our programs and parts supply activities.  Our Aviation Services segment experienced significant growth of 18% driven by strong demand for both new and aftermarket parts as well as successful execution on the WASS program and other government programs.  In our Expeditionary Services segment, sales increased 37% as we began executing against recent contract awards.

“We are exceptionally pleased with our strong performance in the fourth quarter.  Our double-digit organic sales growth and solid cash flow generation were driven by the continued strength in our parts supply and programs activities,” said John M. Holmes, President and Chief Executive Officer of AAR CORP.

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