AAR (AIR: Quote) Wednesday reported a first-quarter profit of $18.2 million or $0.45 per share, up from $16.6 million or $0.41 per share in the same period last year.
On average, five analysts polled by Thomson Reuters expected the company earn $0.39 per share for the quarter. Analysts' estimates typically exclude special items.
Consolidated sales increased to $550.5 million from $485.5 million last year. Analysts expected revenues of $536.97 million.
Last year's first quarter sales included $33.3 million from the sale of two aircraft from the Company's aircraft portfolio.
Looking ahead to the fiscal year 2013, the company raised its outlook to a range of $1.60 to $1.70 per share. This compares to the previous guidance range of $1.55 to $1.65 per share.
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by RTT Staff Writer
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