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Aar Corp (AIR) SEC Filing 10-K Annual Report for the fiscal year ending Monday, May 31, 2021

Aar Corp

CIK: 1750 Ticker: AIR

 

Exhibit 99.1

 

AAR REPORTS FOURTH QUARTER & FISCAL YEAR 2021 RESULTS

 

·Fourth quarter sales of $438 million, up 5% over the prior year

 

·Fourth quarter GAAP diluted earnings per share from continuing operations of $0.41 compared to a loss per share of $0.43 in Q4 FY2020

 

·Fourth quarter adjusted diluted earnings per share from continuing operations of $0.47 up 81% from $0.26 in Q4 FY2020

 

·Fourth quarter cash flow from operating activities from continuing operations of $24 million

  

WOOD DALE, ILLINOIS (July 20, 2021) — AAR CORP. (NYSE: AIR) today reported fourth quarter Fiscal Year 2021 consolidated sales of $437.6 million and income from continuing operations of $14.7 million, or $0.41 per diluted share. For the fourth quarter of the prior year, the Company reported sales of $416.5 million and loss from continuing operations of $15.0 million, or a loss of $0.43 per diluted share. Our adjusted diluted earnings per share from continuing operations in the fourth quarter of Fiscal Year 2021 were $0.47 compared to $0.26 in the fourth quarter of the prior year. Current quarter results included net after-tax adjustments of $2.0 million, or $0.06 per share, primarily related to customer credit and facility consolidation charges partially offset by government subsidies.

 

Consolidated fourth quarter sales increased 5% from the prior year quarter. Our consolidated sales to commercial customers increased 3% from the prior year quarter primarily due to the recovery in the commercial market from the impact of COVID-19. Our consolidated sales to government customers increased 7% as a result of continued strong performance across our global government contracts.

 

Sales to government and defense customers were 48% of consolidated sales compared to 47% in the prior year’s quarter reflecting the growth in our government business as well as the continued impact of COVID-19 on commercial volumes.

 


The following information was filed by Aar Corp (AIR) on Tuesday, July 20, 2021 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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Inside Aar Corp's 10-K Annual Report:

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)
Business Segment Information
Business Segment Information (Tables)
Business Segment Information - Customers Percentage Of Sales (Details)
Business Segment Information - Geographic Data (Details)
Business Segment Information - Reconciles Of Segment Gross Profit To Income (Details)
Business Segment Information - Sales And Gross Profit (Details)
Business Segment Information - Sales By Product And Services (Details)
Business Segment Information - Segment Reporting (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Commitments And Contingencies - Government Subsidies (Details)
Discontinued Operations
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 Level 3 Pension Assets (Details)
Employee Benefit Plans - Reconciliation Of Pension Assets (Details)
Equity
Equity (Details)
Equity (Tables)
Equity - Restricted Stock (Details)
Financing Arrangements
Financing Arrangements (Details)
Financing Arrangements (Tables)
Income Taxes
Income Taxes (Details)
Income Taxes (Tables)
Leases
Leases (Details)
Leases (Tables)
Leases - Facilities And Equipment (Details)
Leases - Maturities (Details)
Leases - Supplemental Cash Flow Information (Details)
Legal Proceedings
Legal Proceedings - Additional Information (Details)
Other Non-Current Assets
Other Non-Current Assets (Details)
Other Non-Current Assets (Tables)
Other Non-Current Assets - Investments In Joint Ventures (Details)
Sale Of Composites Business
Sale Of Composites Business (Details)
Sale Of Receivables
Sale Of Receivables (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Allowance For Doubtful Accounts (Details)
Summary Of Significant Accounting Policies - Contract Assets And Liabilities And Remaining Performance Obligations (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 - Inventories (Details)
Summary Of Significant Accounting Policies - Property, Plant And Equipment And Investments (Details)
Summary Of Significant Accounting Policies - Restructuring And Other Exit Costs, Supplemental Information On Cash Flows (Details)
Summary Of Significant Accounting Policies - Revenue Recognition (Details)
Summary Of Significant Accounting Policies - Rotable Assets And Equipment Under Leases (Details)
Summary Of Significant Accounting Policies - Treasury Stock (Details)
Ticker: AIR
CIK: 1750
Form Type: 10-K Annual Report
Accession Number: 0001104659-21-094125
Submitted to the SEC: Tue Jul 20 2021 9:46:22 PM EST
Accepted by the SEC: Wed Jul 21 2021
Period: Monday, May 31, 2021
Industry: Aircraft And Parts

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