July 18, 2012
AAR reports fourth quarter and fiscal year 2012 results
AAR (AIR) reported fourth quarter fiscal 2012 results that were in line with the preliminary results released on June 14, 2012. Fourth quarter sales were $563.3m compared to sales of $487.8m in the fourth quarter of last year. For the Company’s fiscal year 2012, sales were a record $2.1bn, a 14.4% increase versus the prior year, and net income attributable to AAR was $67.7m compared with sales of $1.8bn and net income attributable to AAR of $69.8m in the prior fiscal year. Sales to commercial customers increased 48.5% compared to the fourth quarter of last year and 32.4% in fiscal 2012 compared to fiscal 2011. Fourth quarter sales growth included 16.5% organic sales growth to commercial customers primarily due to strength in the Company’s Aviation Supply Chain and Maintenance Repair and Overhaul segments. The balance of the commercial sales growth came primarily from the newly acquired businesses, Telair and Nordisk, which were acquired by the Company in early December 2011. Sales to commercial customers represented 60% of total sales for the fourth quarter of fiscal 2012.