AAR Q2 Profit Rises, Cuts FY14 Outlook - Quick Facts

(RTTNews) - AAR (AIR) Thursday reported second-quarter profit of $20.0 million or $0.50 per share, up from $17.8 million or $0.44 per diluted share in the same period last year.

On average, five analysts polled by Thomson Reuters expected the company to earn $0.48 per share for the quarter. Analysts' estimates typically exclude special items.

Consolidated sales increased to $540.7 million from $512.8 million last year. Analysts expected sales of $536.14 million.

Looking ahead to the fiscal 2014, the company has lowered its earnings outlook to a range of $1.95 to $2.00 per share from its prior guidance range of $2.00 to $2.05 per share.

Revenues are projected in a range of $2.100 to $2.150 billion, down from the previous guidance range of $2.175 to $2.225 billion. Analysts currently expect the company to report full-year earnings of $2.05 per share on revenues of $2.19 billion.