AAR reports first quarter fiscal year 2017 results

AAR reported first quarter fiscal Year 2017 consolidated sales of US$404.8mn and income from continuing operations of US$9.9m. For the first quarter of the prior fiscal year, the Company reported sales of US$386.7m and income from continuing operations of US$7.4m. Gross profit increased over the prior year in both segments. In the Aviation Services segment, there was an increase in gross profit of US$3.5mn primarily due to sales growth. In the Expeditionary Services segment, gross profit was up US$4.1m while margins increased due to improved profitability in our mobility products business. During the first quarter of fiscal 2017, we decided to retain our composite manufacturing operations as a product line in our mobility products business. As a result, we reclassified our composite manufacturing operations to continuing operations for all periods presented.