Posted on Thursday, July 7th, 2011 at 5:34 pm.
Defense contractor AAR Corp. reported an increase profit for the fourth quarter that beat analysts’ estimates.
The Wood Dale, Illinois-based company’s attributable net income for the fourth quarter jumped to $21.42 million or $0.52 per share from $11.20 million or $0.29 per share last year. Following the news, shares of AAR rose nearly 5 percent in after hours trade.
Income from continuing operations improved to $22.7 million or $0.55 per share from $11.9 million or $0.31 per share last year. Analysts expected earnings of $0.46 per share, on average, for the quarter.
AAR sales for the quarter increased by 32 percent to $479.8 million, up from $364.8 million last year. Consolidated gross profit margin for the quarter was 17 percent, compared to 18.3 percent last year.
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