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The company anticipates consolidated sales for the fiscal first quarter to be between $540 million to $550 million compared with sales of $485.5 million in the first quarter of fiscal 2012. Diluted earnings per share are expected to range between 42 cents and 45 cents. The company reported diluted earnings per share of 41 cents a year ago. Management also stated that there were no aircraft sales in the fiscal first quarter 2013 compared to two in fiscal first quarter 2012.
Consolidated sales from the commercial segment are expected to be 58% of the total revenue, whereas, sales to government and defense customers are estimated to be around 42%.
Additionally, sales to commercial customers are anticipated to increase approximately 40%, including 13% organic growth. The remaining 60% of the commercial sales growth is expected to be generated from Telair and Nordisk acquisition in December 2011. The contributions of these businesses are anticipated to be in line with management’s expectations.
However, revenue from government and defense segment are expected to remain in line with the fiscal first quarter of 2012 level.
The company expects to release its fiscal first quarter 2013 results after the market closes on September 19, 2012.
Based in Wood Dale, Illinois, AAR Corp. provides various products and services to the aviation and defense industries worldwide. The company operates in four segments: Aviation Supply Chain; Maintenance, Repair, and Overhaul; Structures and Systems; and Government & Defense Services. The company competes directly with as the likes of Goodrich Corp ( ) , Boeing Co ( BA - Analyst Report ) , Lockheed Martin Corporation ( LMT - Analyst Report ) .
We are maintaining a Neutral recommendation on the stock. Currently, AIR has a Zacks #2 Rank, which translates into a short-term (1-3 months) Buy rating.
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