AAR Corporation (AIR) swung to a net loss for the quarter ended Feb. 28, 2015. The company has made a net loss of $34.50 million, or $ 0.89 a share in the quarter, against a net profit of $17.90 million, or $0.45 a share in the last year period.

Revenue during the quarter dropped 4.93 percent to $380.10 million from $399.80 million in the previous year period. Total expenses were 97.63 percent of quarterly revenues, up from 92.72 percent for the same period last year. That has resulted in a contraction of 491 basis points in operating margin to 2.37 percent.

Operating income for the quarter was $9 million, compared with $29.10 million in the previous year period.

"In the Aviation Services segment, we continue to have very strong results as we experienced sales growth of nearly 10.0% and profitability growth of over 30.0%," said David P. Storch, Chairman and chief executive officer of AAR Corp. "In the Expeditionary Services segment, the slower pace of replacing flying positions after the drawdown in Afghanistan had a more negative financial impact on our airlift business than we anticipated and, although we are encouraged by recent contract wins with the UK Ministry of Defense and the UN, as well as overall proposal activity, the transition back to acceptable returns will take longer than expected to materialize."