KLXI down 17% Reports Q1 (Mar) earnings of $0.42 per share, in-line with the Capital IQ Consensus of $0.42; revenues fell 14.7% year/year to $368.2 mln vs the $373.48 mln Capital IQ Consensus. Co's Outlook/Commentary: "...We expect significant continuing headwinds from our military and business jet customers during our second quarter, which will make comparisons with our record second quarter of 2015 difficult. However, we expect favorable comparisons for the third and fourth quarters of 2016 compared with the prior year, resulting in a low single digit growth rate for the year. To date, we have made good progress on executing our previously announced ASG cost reduction program and we remain on track to complete these initiatives by the end of the third quarter of this year as planned..."
