New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
December 3, 2012
18:07 EDTAIRAAR unit awarded $143.67M government contract modification
AAR Airlift, a unit of AAR Corp., is being awarded a $143.67M option year modification for rotary wing aircraft, personnel, equipment, tools, material, maintenance and supervision necessary to perform passenger and cargo air transportation services. Work will be performed in Afghanistan, and the option will start Dec. 1, to be completed by Nov. 30, 2013.
News For AIR From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
July 14, 2015
05:22 EDTAIRAAR Corp. provides update on strategic review process
Upon completing the company's annual strategic review process and assessing its markets, AAR entered FY15 with a mission to narrow its focus and excel as an independent services provider to the global commercial aviation, government and defense markets. AAR is executing this strategy by selling manufacturing businesses and taking actions to strengthen the long-term growth potential of its industry-leading services businesses. When complete, this transformation will simplify the company's operations, significantly strengthen its balance sheet, and improve its return to shareholders. The financial highlights associated with the strategic positioning to date are as follows: Received gross proceeds of $710.9M and recorded a pre-tax gain of $198.6M related to the sale of the Telair Cargo Group, with potential for $35.0M of additional proceeds by December 31, subject to certain conditions. Reclassified our Precision Systems Manufacturing operations as discontinued operations and recorded pre-tax goodwill and other impairment charges of $57.5M. Recorded approximately $74.5M of pre-tax charges including costs associated with streamlining our operations and converting underperforming or excess assets to cash. Approximately $62M are attributable to the Aviation Services segment, $8M to Expeditionary services and $4.5M to corporate restructuring. Repurchased 4.7M shares returning approximately $150M of value to AAR shareholders. Redeemed $325M of 7.25% notes reducing annual interest expense by $24M and incurred a pre-tax make whole premium of $45.6M. Additionally, terminated early a swap and cap arrangement and recorded a $2M charge, saving approximately $1.1M in interest per year.
05:20 EDTAIRAAR Corp. reports Q4 EPS 36c, consensus 20c
Reports Q4 revenue $415.8M, consensus $421.7M.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use