AAR Corp. (AIR) Offers Prelim. Q4 Results, Guides FY13 Amid Restructuring; Announces $50M Buyback

June 14, 2012 5:45 PM EDT Send to a Friend
Get Alerts AIR Hot Sheet
Trade AIR Now!
Join SI Premium – FREE
AAR Corp. (NYSE: AIR) provides preliminary Q4 sales of $560-$565 million and non-GAAP EPS of 44-46 cents. The Street is currently expecting Q4 sales and EPS of $547.6 million and 48 cents, respectively.

The company is expecting FY13 sales of $2.1-$2.2 billion and EPS of $1.55-$1.65. The Street is at sales of $2.04 billion and EPS of $1.82.

In the government and defense market, sales are expected to decline year-over-year but remain essentially flat with the third quarter. In order to streamline operations and improve efficiencies at the Company's manufacturing businesses supporting this market, the Company expects to record approximately $4.0 million in restructuring charges. The Company also expects to record an approximately $9.5 million charge as a result of lowering its profit expectations on the KC10 support contract. This adjustment represents the difference between the new margin expectation and the previous margin expectation for the period of performance since contract inception.

The Company also announced today that it received authorization from its Board of Directors to repurchase up to $50 million in common stock.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Corporate News, Guidance, Stock Buybacks

Add Your Comment