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AAR Posts Q1 Profit

AAR Corp. (AIR) Thursday reported first-quarter net income of $11.5 million or $0.32 per share, compared to loss of $14.5 million or $0.42 per share last year.

Adjusted earnings from continuing operations in the quarter were $0.52 per share, up from $0.17 per share last year.

Sales dropped to $455.1 million from $400.8 million last year.

Analysts polled by Thomson Reuters estimated earnings of $0.48 per share on revenues of $438.39 million for the quarter. Analysts' estimates typically exclude one-time items.

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