AAR reports record first quarter results

AAR reported fiscal 2009 first quarter net sales of $359.9 million and income from continuing operations of $18.7 million. Sales grew 18% from $306.0 million in last year’s first quarter, and income from continuing operations increased 23% from $15.3 million in the prior year. Sales to defense customers increased 32% and sales to commercial customers increased 10%, year over year. Excluding the Aircraft Sales and Leasing segment, sales growth to commercial customers was 23%.