Research Desk Line-up: Astrotech Post Earnings Coverage
LONDON, UK / ACCESSWIRE / October 4, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on AAR Corp. (NYSE: AIR), which can be viewed by registering at http://protraderdaily.com/optin/'symbol=AIR, following the Company's reporting of its financial results on September 19, 2017, for the first quarter of the fiscal year 2018. The Company's revenue increased 8.4% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
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Get more of our free earnings reports coverage from other constituents of the Aerospace/Defense Products & Services industry. Pro-TD has currently selected Astrotech Corporation (NASDAQ: ASTC) for due-diligence and potential coverage as the Company reported on September 18, 2017, its financial results for Q4 FY17 and FY17 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Astrotech when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on AIR; also brushing on ASTC. With the links below you can directly download the report of your stock of interest free of charge at:
http://protraderdaily.com/optin/'symbol=AIR
http://protraderdaily.com/optin/'symbol=ASTC
Earnings Reviewed
For the three months ended August 31, 2017, AAR's revenue increased 8.4% to $439.2 million from $404.8 million in Q1 FY17. The revenue numbers surpassed analysts' expectations of $412 million.
During Q1 FY18, AAR's gross profit increased 18.5% to $86.00 million from $72.53 million in Q1 FY17. For the reported quarter, the Company's gross margin decreased 100 basis points to 25% of revenue from 26% of revenue in Q1 FY17.
For the reported quarter, AAR's selling, general, and administrative expenses (SG&A) increased 7.1% to $48.0 million from $44.8 million in Q1 FY17.
During Q1 FY18, AAR's operating income decreased 1.1% to $16.5 million from $16.7 million in Q1 FY17. For the reported quarter, the Company's operating margin decreased 40 basis points to 3.7% of revenue from 4.1% of revenue in Q1 FY17.
For the reported quarter, AAR's effective tax rate was 33.9% compared to 32.9% in Q1 FY17. The Company's net interest expense for the reported quarter was $1.7 million compared to $1.3 million in the year-ago same period, due to higher borrowings.
During Q1 FY18, AAR's net income increased 11.5% to $10.6 million from $9.5 million in Q1 FY17. During Q1 FY18, the Company's diluted earnings per share (EPS) increased 10.7% to $0.31 from $0.28 in Q1 FY17. The diluted EPS was in-line with analysts' expectations of $0.31.
During Q1 FY18, AAR signed its first Airbus NEO customer to a new long-term component support agreement with Hawaiian Airlines, expected to start in November 2017. The Company also signed its first Boeing 737 MAX program with flydubai to provide comprehensive flight-hour component support for 100 aircraft, expected to start in October 2017.
During Q1 FY18, AAR repurchased 142,600 shares at $5.2 million.
Segment Details
Aviation Services - During Q1 FY18, AAR's Aviation Services segment's revenue increased 10.9% to $371.3 million from $334.6 million in Q1 FY17. For the reported quarter, the segment's gross profit increased 8.2% to $57.8 million from $53.4 million in Q1 FY17.
Expeditionary Services - During Q1 FY18, AAR's Expeditionary Services segment's revenue decreased 3.2% to $67.9 million from $70.2 million in Q1 FY17. For the reported quarter, the segment's gross profit decreased 17.2% to $6.7 million from $8.1 million in Q1 FY17.
Balance Sheet
As on August 31, 2017, AAR's cash and cash equivalents increased 46.6% to $15.1 million from $10.3 million in Q4 FY17.
During Q1 FY18, the Company's total assets increased 2% to $1.53 billion from $1.50 billion in Q4 FY17.
For the reported quarter, the Company's total debt increased 21.0% to $192.9 million from $159.3 million in Q4 FY17. During the reported quarter, AAR consumed $20.6 million of cash in operations; paid cash dividends of $2.6 million, or $0.075 per share; and repurchased 142,600 shares for $5.2 million.
Stock Performance
AAR Corp.'s share price finished yesterday's trading session at $39.13, climbing 1.50%. A total volume of 211.74 thousand shares have exchanged hands. The Company's stock price rallied 10.85% in the last three months, 14.38% in the past six months, and 26.43% in the previous twelve months. Additionally, the stock surged 18.40% since the start of the year. Shares of the Company have a PE ratio of 26.56 and have a dividend yield of 0.77%. The stock currently has a market cap of $1.35 billion.
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