- Taxes on some wealthy French top 100 pct of income: paper
- North Korea fires short-range missiles for two days in a row |
- Israel warns against Russian arms supply to Syria
- Winning ticket for $590.5 million Powerball lottery sold in Florida |
- Female hostage died from police bullet in New York standoff: official
AAR Corp shares jump on strong 1st-qtr estimates
(Reuters) - Shares of AAR Corp (AIR.N) rose as much as 12 percent after the aircraft parts supplier's estimates for its quarterly results came in above analysts' expectations, boosted by a 40 percent jump in sales to commercial customers.
For the first quarter ended August, the company expects to report per-share earnings of 42 cents to 45 cents and revenue of $540 million to $550 million.
Analysts, on average, were expecting earnings of 33 cents per share on revenue of $525.6 million, according to Thomson Reuters I/B/E/S.
The company said sales at its commercial business, which accounts for 58 percent of its revenue, were boosted by the acquisition of Telair International and Nordisk Aviation Products in December last year.
Shares of the Wood Dale, Illinois-based company, due to report its results on September 19, were up 11 percent at $16.23 in early morning trade on the New York Stock Exchange.
(Reporting by Tej Sapru in Bangalore; Editing by Sreejiraj Eluvangal)
- Tweet this
- Share this
- Digg this