AAR reports third quarter fiscal 2012 net income of $20.7m

AAR reported third quarter fiscal year 2012 consolidated sales of $534.2m and net income attributable to AAR of $20.7m. For the third quarter of the prior fiscal year, the Company reported sales of $458.0m and net income attributable to AAR of $17.9m. Selling, general and administrative expenses as a percentage of sales were 9.6% and the consolidated gross profit margin was 16.3% during the third quarter. Margins improved over the prior year in the Aviation Supply Chain segment due to enhanced product availability. Margins in the MRO segment were lower year-over-year as last year’s third quarter was favorably impacted by a high-margin engineering services contract. In the Government and Defense Services segment, margins were lower than last year primarily as a result of the aircraft availability issues at the Company’s airlift operation. The Company generated $13.4m in cash flow from operations and had capital expenditures, exclusive of the Telair and Nordisk acquisitions, of $7.5m.