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AAR CORP. ANNOUNCES FIRST QUARTER RESULTS

 AAR CORP. ANNOUNCES FIRST QUARTER RESULTS
 ELK GROVE VILLAGE, Ill., Sept. 17 /PRNewswire/ -- AAR CORP. today


announced that for the company's first quarter ended Aug. 31, 1992, net income was $3,103,000, or 20 cents per share, compared with $3,444,000, or 22 cents per share the prior year. Net sales for the first quarter of the current year were $98,072,000, compared with $107,339,000 for the same period in the prior year.
 Ira A. Eichner, chairman of the board and chief executive officer, commenting on the quarter, said, "During the period we continued the battle against very difficult industry conditions. When reviewing the first quarter, however, it is noteworthy that results for the same period last year included earnings derived from $11 million of product sales for the Persian Gulf conflict, and losses incurred at our Oklahoma maintenance subsidiary. Without the net after-tax earnings of $1.3 million attributable to these two events in the period last year, current first quarter results reflect improved performance."
 AAR CORP. traded (NYSE: AIR), is a leading supplier of aerospace/aviation products and services. The company primarily supplies parts and equipment, performs technical services, and manufactures proprietary products for the aviation industry in the United States and abroad.
 AAR CORP. ANNOUNCES FIRST QUARTER RESULTS
 (In thousands except per share data)
 Three Months Ended Aug. 31,
 1992 1991
 Net Sales $ 98,072 $107,339
 Operating Income 6,423 7,064
 Pretax Income 4,653 5,144
 Net Income 3,103 3,444
 Earnings Per Share $ .20 $ .22
 Average Shares Outstanding 15,842 15,891
 -0- 9/17/92
 /CONTACT: Office of the Chairman, 708-439-3939, AAR CORP/
 (AIR) CO: AAR Corp. ST: Illinois IN: AIR SU: ERN


LR -- NY045 -- 0592 09/17/92 11:20 EDT
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Date:Sep 17, 1992
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