AAR reports third quarter fiscal year 2013 results

AAR reported third quarter fiscal year 2013 consolidated sales of $520.2m and net income of $18.4m. This compares to year-ago sales of $534.2m and net income of $20.6m. The prior year’s third quarter included an income tax benefit of $4.0m. Sales in the Aviation Services segment increased 9% to $408.2m oand sales in the Technology Products segment declined 30% to $112m. Commercial sales increased 7% over the prior year’s third quarter, increasing to 62% of consolidated sales as compared to 57% of consolidated sales in the same period last year. Increased sales in the commercial market were driven by growth in the Company’s parts supply businesses and airframe maintenance centers, including a modest contribution from the Company’s recently opened Duluth MRO facility. The Company noted that revenues from the Telair and Nordisk acquisitions were included, for the first time, in both current and prior year quarter results.