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AAR ANNOUNCES RESULTS FOR SECOND QUARTER

 AAR ANNOUNCES RESULTS FOR SECOND QUARTER
 ELK GROVE VILLAGE, Ill., Dec. 18 /PRNewswire/ -- AAR Corp.


(NYSE: AIR) today announced the following results for the second quarter ended Nov. 30, 1991:
 AAR CORPORATION
 (In thousands except per share data)
 Three months ended Nov. 30: 1991 1990
 Net sales $101,948 $115,808
 Operating income 5,766 2,696
 Pretax income 3,886 196
 Net income 2,686 126(A)
 Earnings per share $.17 $.01(A)
 Average shares outstanding 15,894 15,941
 (A) -- Includes nonrecurring aftertax charge of $2,150 or 13 cents per share.
 AAR Corp. today announced that for the company's second quarter ended Nov. 30, 1991, net income was $2,686,000 or 17 cents per share, up from $126,000 or 1 cent per share (which includes a nonrecurring aftertax charge of 13 cents per share) for the comparable period in fiscal 1991. Net sales for the same period were $101,948,000 compared with $115,808,000 for the second quarter last year. The average number of shares outstanding were 15,894,000 from 15,941,000 year-over-year.
 For the first half of the fiscal year, net income was $6,130,000 or 39 cents per share, versus $6,823,000 or 43 cents per share for the comparable period of the prior year. Six-month net sales were $209,287,000 compared with last year's $231,900,000.
 Commenting on the quarter, Ira A. Eichner, chairman of the board and chief executive officer, said, "The increase in net income year-over-year, even after giving consideration to last year's nonrecurring charge of 13 cents per share, was achieved on reduced sales volumes as profit margins improved in certain of our businesses. As expected, sales were lower year-over-year as the second quarter of the prior fiscal year benefitted from the sale of aircraft and higher volume at our airframe overhaul unit which was downsized." Eichner concluded by saying, "We are encouraged to see that in the period, with its difficult economic environment, certain of our core businesses showed modest improvement in both sales and margins."
 AAR Corp. is a leading supplier of aerospace/aviation products and services. The company primarily distributes parts and equipment, performs technical services and manufactures proprietary products for the aviation industry in the United States and abroad.
 -0- 12/18/91
 /CONTACT: AAR Corp., office of the chairman, 708-439-3939/
 (AIR) CO: AAR Corp. ST: Illinois IN: AIR SU: ERN


TS -- NY009 -- 3282 12/18/91 09:11 EST
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Date:Dec 18, 1991
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