Profits fall at AAR Corp

AAR Corp has reported an 11% fall in fiscal third-quarter profit due to a drop in sales and the effects of higher income tax expenses. AAR reported income of $18.4 million down from $20.7 million in the year-ago quarter. The latest figures included $9.3 million in income-tax expenses. Sales declined by 2.6% to $520.2 million. The company has per-share earnings projection for the year, now estimating $1.78 to $1.82. For revenue, it now expects about $2.15 billion.