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AAR RELEASES PRELIMINARY RESULTS FOR FISCAL 1992

 AAR RELEASES PRELIMINARY RESULTS FOR FISCAL 1992
 ELK GROVE VILLAGE, Ill., June 18 -- AAR Corp. (NYSE: AIR) today


announced preliminary results for the company's fiscal year that ended May 31. These results are subject to final audit.
 Net sales for the year are expected to be approximately $422,600,000, compared to the prior year's $466,542,000. Net income is expected to be about $10,000,000 or 63 cents per share, versus $14,801,000 or 93 cents per share for the 1991 fiscal year.
 Net sales for the fourth quarter are expected to be approximately $108,400,000 versus $116,822,000 for the same period last year. Net income is expected to be approximately $1,000,000 or 6 cents per share, compared to $4,001,000 or 25 cents per share for the fourth quarter of fiscal 1991.
 The preliminary fourth quarter results include a previously announced pretax charge of $5.8 million ($3.8 million after tax, or 24 cents per share) as a result of downsizing the company's Oklahoma City-based airframe maintenance unit. For the full fiscal year the Oklahoma unit had an operating loss of $4.8 million.
 The company's preliminary results also include an after-tax benefit of $700,000 (4 cents per share) from the reversal of an income tax liability recorded in prior years but no longer required.
 Ira A. Eichner, chairman of the board and chief executive officer of AAR, commenting on the expected results, said, "The fourth quarter year- over-year earnings improved, excluding the effect of the charge and the tax benefit. This was achieved, notwithstanding lower sales volume, due to a change in sales mix and the benefit of cost efficiencies. During fiscal 1992, we saw quarter-over-quarter improvement in certain core operations in both sales and profits."
 Eichner went on to say, "The downsizing of the Oklahoma unit should remove the burden of further losses from this operation on future earnings. This, plus the company's strengthening performance, provides a positive beginning to our new fiscal year."
 The company expects completion of its audit and release of final financial results on or about July 16, 1992.
 AAR Corp. 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.
 -0- 6/18/92
 /CONTACT: Office of Ira Eichner, chairman of AAR, 708-439-3939/
 (AIR) CO: AAR Corp. ST: Illinois IN: AIR SU: ERP


TQ -- NY017 -- 1396 06/18/92 09:42 EDT
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Publication:PR Newswire
Date:Jun 18, 1992
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