AAR, a provider of parts and maintenance services to the aviation industry, posted a lower than expected quarterly profit, as the recovery in its commercial markets was slower than anticipated.

Aviation services firms have found their business suffering as airlines reduced inventory levels and maintenance visits due to economic pressure and tight credit markets.

For the fourth quarter ended May 31, the company reported net income of USD$11.2 million, compared with USD$14.2 million a year ago.

Sales remained almost flat at USD$372.3 million.

The aviation supply chain segment, which saw sales fall more than 9 percent to USD$103.3 million, was hurt by lower engine parts sales to commercial customers.

The structures and systems segment declined about 7 percent to USD$108.9 million, while the maintenance, repair and overhaul segment declined more than 17 percent to USD$79.7 million.