AAR Corporation (AIR) has reported an 185.42 percent jump in profit for the quarter ended Feb. 28, 2017. The company has earned $13.70 million, or $0.40 a share in the quarter, compared with $4.80 million, or $0.14 a share for the same period last year.
Revenue during the quarter grew 8.40 percent to $446.70 million from $412.10 million in the previous year period. Gross margin for the quarter expanded 106 basis points over the previous year period to 15.45 percent. Total expenses were 95.21 percent of quarterly revenues, down from 96.07 percent for the same period last year. This has led to an improvement of 86 basis points in operating margin to 4.79 percent.
Operating income for the quarter was $21.40 million, compared with $16.20 million in the previous year period.
"We are very pleased with our progress during the quarter as we continue to use our strong financial position to support our customers," said David P. Storch, chairman, president and chief executive officer of AAR CORP. "We are investing in inventory and systems infrastructure as we provide cost effective long term supply chain solutions for our customers."
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