(Reuters) - Aircraft parts supplier AAR Corp’s (AIR.N) quarterly results beat analysts’ expectations, helped by strong sales at its structures and systems segment.
Third-quarter net income attributable to AAR rose to $20.7 million, or 50 cents a share, from $17.9 million, or 44 cents a share, a year ago.
For the first time this fiscal year AAR trumped the net income estimates of analysts polled by Thomson Reuters I/B/E/S, who had expected the company to earn 49 cents a share for the quarter ended February 29.
Revenue rose 17 percent to $534.2 million.
Sales at the company’s structures and systems segment -- which contributes more than a fourth to total revenue -- rose 86 percent to $154.2 million.
Analysts expected revenue of $507.5 million.
The Wood Dale, Illinois-based company’s shares, which have gained 48 percent in value since touching a year-low in October, closed at $21.18 on Tuesday on the New York Stock Exchange.
Reporting by Sagarika Jaisinghani in Bangalore; Editing by Joyjeet Das