AAR CORP. (AIR) reported fourth quarter sales of $492.3 million, up 5.1 percent from last year, and full year sales of $1.77 billion, up 4 percent from the prior year.
The corporation, which operates a commercial aircraft maintenance base in Duluth, said full year income from continuing operations was $50.2 million, or $1.45 per diluted share. In Fiscal Year 2016, income from continuing operations was $38.3 million, or $1.10 per share.
Sales in aviation services increased 5.2 percent in the quarter over last year
AAR recently was awarded a $909 million fixed-price contract from the U.S. Air Force for the Landing Gear Performance-Based Logistics One program. The company will provide total supply chain management, including purchasing, remanufacturing, distribution and inventory control to support Air Force requisitions received for all C-130, KC-135 and E-3 landing gear parts. AAR also announced the award of a multi-year component support contract with ASL Group, a growing European-based scheduled and charter carrier, covering approximately 100 passenger and cargo aircraft.
“The broad market acceptance of the AAR brand as an industry leading provider of maintenance and supply chain solutions to operators around the globe, the growing global commercial aircraft fleet, and the increasing trend to outsource non-core functions by commercial and government customers all set the stage for a positive outlook for our business as we enter our Fiscal Year 2018", said Chairman and CEO David P. Storch.