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Aar Corp (AIR) SEC Filing 10-Q Quarterly report for the period ending Friday, August 31, 2018

Aar Corp

CIK: 1750 Ticker: AIR

Exhibit 99.1

 

For immediate release

 

AAR REPORTS FIRST QUARTER 2019 RESULTS

 

·           First quarter sales of $466 million, up 17% from Q1 FY2018

 

·           First quarter diluted earnings per share from continuing operations of $0.54 compared to $0.32, or $0.33 on an adjusted basis, in Q1 FY2018

 

·           Adjusted diluted earnings per share from continuing operations up 64% from Q1 FY2018

 

WOOD DALE, ILLINOIS (September 25, 2018) — AAR CORP. (NYSE: AIR) today reported first quarter Fiscal Year 2019 consolidated sales of $466.3 million and income from continuing operations of $18.9 million, or $0.54 per diluted share.  For the first quarter of the prior year, the Company reported sales of $397.9 million and income from continuing operations of $11.0 million, or $0.32 per diluted share.  Our adjusted diluted earnings per share from continuing operations were $0.54 in the current quarter compared to $0.33 in the first quarter of the prior year.

 

Consolidated sales increased $68.4 million or 17.2% over the prior year period due to continued strength in our trading, distribution and programs activities as well as the successful launch of the INL/A Worldwide Aviation Support Services (WASS) program, which achieved full run-rate in July.  The WASS program contributed $43.2 million of sales in the quarter, which were partially offset by the wind-down of the KC-10 CLS program, which had $2.5 million in sales in the current quarter compared to $11.7 million in the prior year quarter.  Excluding the impact from the KC-10 and WASS programs, our Aviation Services sales grew 9.2% year over year.

 

“Our year is off to a great start with double-digit sales growth driven by the continued strength in our commercial and government programs, as well as our parts supply businesses.  We are successfully executing on our recent contract awards and remain focused on delivering world class solutions to both our commercial and government customers,” said John M. Holmes, President and Chief Executive Officer of AAR CORP.

 

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The following information was filed by Aar Corp (AIR) on Tuesday, September 25, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Changes In Equity
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Comprehensive Income (Parenthetical)
Condensed Consolidated Statements Of Income
Accounting For Stock-Based Compensation
Accounting For Stock-Based Compensation (Details)
Accounting For Stock-Based Compensation (Tables)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (Details)
Accumulated Other Comprehensive Loss (Tables)
Acquisitions
Acquisitions (Details)
Acquisitions (Tables)
Basis Of Presentation
Basis Of Presentation (Details)
Basis Of Presentation (Tables)
Business Segment Information
Business Segment Information (Details)
Business Segment Information (Tables)
Business Segment Information - Reconcile Of Gross Profit To Income (Details)
Discontinued Operations
Discontinued Operations (Details)
Discontinued Operations (Tables)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Financing Arrangements
Financing Arrangements (Details)
Financing Arrangements (Tables)
Inventory
Inventory (Details)
Inventory (Tables)
Legal Proceedings
Revenue Recognition
Revenue Recognition (Details)
Revenue Recognition (Tables)
Revenue Recognition - Contract Assets And Liabilities And Remaining Performance Obligations (Details)
Revenue Recognition - Disaggregation Of Revenue (Details)
Sale Of Receivables
Sale Of Receivables (Details)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (Details)
Supplemental Cash Flow Information (Tables)
Ticker: AIR
CIK: 1750
Form Type: 10-Q Quarterly Report
Accession Number: 0001104659-18-058911
Submitted to the SEC: Thu Sep 27 2018 9:20:35 AM EST
Accepted by the SEC: Thu Sep 27 2018
Period: Friday, August 31, 2018
Industry: Aircraft And Parts

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