AAR CORP. (NYSE: AIR) has reported first quarter fiscal year 2017 consolidated sales of USD404.8 million and income from continuing operations of USD9.9 million, or USD0.29 per diluted share, the company said.
In the first quarter of the prior fiscal year, the company reported sales of USD386.7 million and income from continuing operations of USD7.4 million, or USD0.21 per diluted share, representing a 4.1 percent increase from the previous year.
The company said sales in the first quarter grew six percent from last year to USD334.6 million, contributing to improved margins.
Gross profit increased over the prior year in both segments. In the aviation services segment, there was an increase in gross profit of USD3.5 million primarily due to sales growth. In the expeditionary services segment, gross profit was up USD4.1 million while margins increased due to improved profitability in our mobility products business. During the first quarter of fiscal 2017, the company decided to retain its composite manufacturing operations as a product line in the mobility products business.
AAR is a global aftermarket solutions company that employs more than 4,500 people in over 20 countries. Based in Wood Dale, Illinois, AAR supports commercial aviation and government customers.