Defense contractor AAR Corp. (AIR: News ), Wednesday reported an increase in profit for the fourth quarter that also beat analysts’ estimates, driven mainly by higher sales from commercial and defense markets. Following the news, shares of AAR rose nearly 5% in after hours trade.
The Wood Dale, Illinois-based company’s attributable net income for the fourth quarter improved to $21.42 million or $0.52 per share from $11.20 million or $0.29 per share last year.
Income from continuing operations rose to $22.7 million or $0.55 per share from $11.9 million or $0.31 per share in the year ago quarter. On average, seven analysts polled by Thomson Reuters expected earnings of $0.46 per share for the quarter. Analysts’ estimates typically exclude one-time gains and losses.
Regards,
Don

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