Selected Quarterly Data (Unaudited)

12 Months Ended

May. 31, 2015

Selected Quarterly Data (Unaudited)

Selected Quarterly Data (Unaudited)

14. Selected Quarterly Data (Unaudited)

        The unaudited selected quarterly data for fiscal years ended May 31, 2015 and 2014 is presented below and has been recast to reflect Telair Cargo Group and PSM as discontinued operations for all periods presented:

Fiscal 2015

	First Quarter		Second Quarter		Third Quarter			Fourth Quarter			Full Year
Sales	$	395.1	$	403.3	$	380.1		$	415.8		$	1,594.3
Gross profit		62.4		67.2		50.1			(20.4	)		159.3
Income (Loss) from continuing operations attributable to AAR		11.8		13.9		1.9			(82.1	)		(54.5	)
Income (Loss) from discontinued operations attributable to AAR		2.6		1.3		(36.4	)		97.2			64.7
Net income (loss) attributable to AAR		14.4		15.2		(34.5	)		15.1			10.2
Earnings (Loss) per share—basic:
Continuing operations		0.30		0.35		0.05			(2.12	)		(1.40	)
Discontinued operations		0.07		0.03		(0.94	)		2.50			1.66
Earnings per share—basic		0.37		0.38		(0.89	)		0.38			0.26
Earnings (Loss) per share—diluted:
Continuing operations		0.30		0.35		0.05			(2.12	)		(1.40	)
Discontinued operations		0.07		0.03		(0.94	)		2.48			1.64
Earnings (Loss) per share—diluted		0.37		0.38		(0.89	)		0.36			0.24

Fiscal 2014

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Full Year
Sales	$	429.8	$	458.9	$	399.8	$	420.6	$	1,709.1
Gross profit		71.8		77.4		66.2		73.5		288.9
Income from continuing operations attributable to AAR		16.7		18.7		16.9		14.9		67.2
Income from discontinued operations attributable to AAR		1.2		1.3		1.0		2.2		5.7
Net income attributable to AAR		17.9		20.0		17.9		17.1		72.9
Earnings per share—basic:
Continuing operations		0.42		0.48		0.43		0.38		1.70
Discontinued operations		0.03		0.03		0.02		0.06		0.15
Earnings per share—basic		0.45		0.51		0.45		0.44		1.85
Earnings per share—diluted:
Continuing operations		0.42		0.47		0.43		0.37		1.68
Discontinued operations		0.03		0.03		0.02		0.06		0.15
Earnings per share—diluted		0.45		0.50		0.45		0.43		1.83

¹ The earnings-per-share computation for the year is a separate, annual calculation. Accordingly, the sum of the quarterly earnings-per-share amounts does not necessarily equal the earnings per share for the year.

² Fourth quarter loss from continuing operations in fiscal 2015 reflects impairment charges and other losses of $71.4 million related to product lines and inventories identified as underperforming or not part of our strategy going forward in our services businesses and a loss on extinguishment of debt of $44.9 million.

³ Third quarter loss from discontinued operations in fiscal 2015 reflects the impairment of PSM's net assets of $46.4 million.

⁴ Fourth quarter income from discontinued operations in fiscal 2015 reflects the pre-tax gain on sale of the Telair Cargo Group of $198.6 million partially offset by additional impairment of PSM's net assets of $11.1 million.