AAR REPORTS THIRD QUARTER RESULTS
AAR REPORTS THIRD QUARTER RESULTS ELK GROVE VILLAGE, Ill., March 18 /PRNewswire/ -- AAR Corp.
(NYSE: AIR) today announced financial results for the third quarter ended Feb. 29, 1992. For the period, net sales were $104,920,000 compared to $117,820,000 for the same period last year. Net income was $2,880,000, or 18 cents per share, compared to $3,977,000, or 25 cents per share, for the third quarter of the previous year. The average number of shares outstanding at Feb. 29, 1992, was 15,896,000 versus 15,891,000 a year ago.
For the first nine months of the fiscal year, net income was $9,010,000, or 57 cents per share, versus $10,800,000, or 68 cents per share, for the same period of fiscal 1991. Nine-month net sales were $314,207,000 compared to last year's $349,720,000. Ira A. Eichner, chairman of the board and chief executive officer of AAR, said of the results, "During our third quarter, despite a persistently difficult business environment, certain of our core operations showed improvement with increased sales and profits; others have yet to benefit from any growth in demand. In addition, continued focus on cost reduction and expense control benefitted results as well as further streamlining the AAR organization." Eichner went on to say, "Results should show improvement as the economy rebounds and demand increases for our products and services." 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. AAR CORP. (In thousands except per share data) Three months ended 2/29/92 2/28/91 Net sales $104,920 $117,820 Operating income 5,990 8,407 Pretax income 4,240 6,007 Net income $ 2,880 $ 3,977 Earnings per share $.18 $.25 Average shares outstanding 15,896 15,891 -0- 3/18/92 /CONTACT: Office of the Chairman, AAR Corp., 708-439-3939/ (AIR) CO: AAR Corp. ST: Illinois IN: AIR SU: ERN
GK -- NY014 -- 9090 03/18/92 09:26 EST
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|Date:||Mar 18, 1992|
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