AAR CORP. (AIR) has reported a 51.25 percent jump in profit for the quarter ended Nov. 30, 2016. The company has earned $12.10 million, or $0.35 a share in the quarter, compared with $8 million, or $0.23 a share for the same period last year.
Revenue during the quarter went down marginally by 1.78 percent to $423.80 million from $431.50 million in the previous year period. Gross margin for the quarter expanded 192 basis points over the previous year period to 15.62 percent. Total expenses were 95.30 percent of quarterly revenues, down from 96.32 percent for the same period last year. This has led to an improvement of 101 basis points in operating margin to 4.70 percent.
Operating income for the quarter was $19.90 million, compared with $15.90 million in the previous year period.
"During the quarter, we increased the number of customers and aircraft we support under flight hour component programs recently securing contract awards with airlines in Africa, Asia-Pacific, the Middle East and Europe. We expect contributions to revenue and income to ramp up in the second half of fiscal year 2017," said David P. Storch, chairman, president and chief executive officer of AAR CORP.
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