WOOD DALE, Ill. (AP) _ AAR Corp. (AIR) on Wednesday reported fiscal first-quarter profit of $4.4 million.
On a per-share basis, the Wood Dale, Illinois-based company said it had profit of 13 cents. Earnings, adjusted to account for discontinued operations and non-recurring costs, were 57 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.
The airplane maintenance company posted revenue of $541.5 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $498.4 million.
AAR expects full-year earnings in the range of $2.45 to $2.65 per share, with revenue in the range of $2.1 billion to $2.2 billion.
AAR shares have increased 21% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $45.36, a decline of 1.5% in the last 12 months.