AAR reports third quarter fiscal year 2015 results

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By TESTCustomwebLP TESTCustomwebLP March 31, 2015 16:34

AAR reports third quarter fiscal year 2015 results

AAR has posted third quarter fiscal year 2015 consolidated sales of $380.1m and net loss of $34.5m after discontinuing operations of Telair Cargo Group and Precision Systems Manufacturing.

For the third quarter, AAR reported sales of $399.8m and net income of $17.9m. Income from continuing operations fell to $1.9m compared to $16.9m net income in the prior year period, due to a $46.4m pre-tax impairment charge for the write down of the Precision Systems Manufacturing business a $4.7m pre-tax impairment charge to reduce the carrying value of aircraft for sale by the company’s airlift business, and $2.5m of severance due to downsizing and costs related to a large government proposal.

Sales in the Aviation Services segment rose 9.9% to $318.4m, while sales in Expeditionary Services declined by 44% to $61.7mi, due to the decline at airlift.

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By TESTCustomwebLP TESTCustomwebLP March 31, 2015 16:34