AAR reports first quarter fiscal year 2016 results

AAR reported first quarter fiscal year 2016 sales of US$377.8m and income from continuing operations of US$8.2m. For the first quarter of the prior fiscal year, the Company reported sales of US$395.1m and income from continuing operations of U$11.8m. During the quarter, the Company recorded a pre-tax gain of US$27.7m within discontinued operations from the receipt of additional proceeds from the sale of the Telair Cargo Group. Including this impact, the Company reported total net income of US$22.9m in the first quarter. In the prior year period, the Company reported total net income of US$14.4m. First quarter sales to commercial customers represented 61% of consolidated sales, compared to 60% of consolidated sales in the first quarter of last year. The balance of the sales was to government customers including defense.