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AAR Q3 consolidated sales $553.1 million

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Christian Fernsby ▼ | March 25, 2020
AAR reported third quarter fiscal year 2020 consolidated sales of $553.1 million and income from continuing operations of $2.6 million, or $0.07 per diluted share.
AAR
AAR   Third quarter results included a predominantly non-cash pretax charge
Third quarter results included a predominantly non-cash pretax charge of $24.7 million primarily resulting from restructuring and exiting underperforming contracts in commercial programs.

Topics: AAR

For the third quarter of the prior year, the Company reported sales of $529.5 million and income from continuing operations of $27.4 million, or $0.78 per diluted share.

Adjusted diluted earnings per share from continuing operations were $0.67 in the current quarter compared to $0.62 in the third quarter of the prior year.

Consolidated sales increased 4% over the prior year period due to continued growth across our Aviation Services segment, which experienced sales growth of 7%.

Excluding the sales impact of the restructuring actions of $9.8 million, Aviation Services sales grew 9% during the quarter primarily from execution on our government contracts.

Sales to government and defense customers represented 35% of consolidated sales in the current quarter compared to 33% in the prior year quarter reflecting growth from new government programs.


 

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