NEW YORK (AP) — Defense contractor AAR Corp. may draw attention Friday after providing fourth-quarter and fiscal 2013 earnings guidance that were below Wall Street's expectations.
AAR said late Thursday that it expects fourth-quarter earnings between 44 cents and 46 cents per share on revenue in a range of $560 million to $565 million.
Analysts surveyed by FactSet predict earnings of 50 cents per share on revenue of $540.6 million.
For fiscal 2013, the company expects earnings of $1.55 to $1.65 per share on revenue between $2.1 billion and $2.2 billion. Analysts predict full-year earnings of $2.10 per share on revenue of $2.19 billion.
The Wood Dale, Ill., company also said Thursday that it will buy back up to $50 million of its common stock. AAR said it will fund the repurchases with cash on hand and cash generated from operations.
AAR's stock fell 54 cents, or 4.7 percent, to $11.03 in after-hours trading on Thursday. It closed at $11.57 in regular trading on Thursday. Its shares have traded in a range of $11.07 to $31.66 over the past year.