First quarter 2010 revenues of $463.5 million declined by $60.2 million, or 11.5%, as compared with first quarter 2009 revenues of $523.7 million. The $60.2 million decrease in consolidated revenues was due to a lower level of demand for consumables and business jet products. First quarter 2010 operating earnings of $72.0 million declined 10.8% as compared with the first quarter of 2009. Operating margin of 15.5% expanded 10 basis points in spite of the lower level of revenues. First quarter 2010 net earnings were $33.8 million or $0.34 per diluted share.
AAR acquires Trax to accelerate digital solutions strategy
Chicago-headquartered AAR CORP. (AAR) has announced its acquisition of Trax Corp. (trax), a leading independent provider of aircraft MRO and fleet management software to accelerate its digital solutions strategy. AAR is a global aerospace and defence aftermarket solutions company with operations in over 20 countries. It supports commercial and government customers through two operating segments: