AAR CORP. reported fourth quarter fiscal year 2019 consolidated sales of $562.7 million and income from continuing operations of $26.6 million, or 76 cents per diluted share. For the fourth quarter of the prior year, the company reported sales of $473.5 million and income from continuing operations of $18.1 million, or 52 cents per diluted share.
Consolidated sales increased 19 percent over the prior year period from continued growth in programs and parts supply activities. The Aviation Services segment, which has an operation in Duluth, experienced 18 percent growth driven by strong demand for both new and aftermarket parts.
"We are exceptionally pleased with our strong performance in the fourth quarter. Our double-digit organic sales growth and solid cash flow generation were driven by the continued strength in our parts supply and programs activities," said President and Chief Executive Officer John M. Holmes.
Full fiscal year 2019 income from continuing operations was $84.1 million, or $2.40 per diluted share. In Fiscal Year 2018, it was $73.7 million, or $2.11 per share. Adjusted diluted earnings per share from continuing operations, which excludes tax benefits and other items, increased 36 percent to $2.36 in the current year from $1.73 last year.