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FLEET AEROSPACE ANNOUNCES RESULTS FOR YEAR ENDED SEPT. 30, 1991

 FLEET AEROSPACE ANNOUNCES RESULTS FOR YEAR ENDED SEPT. 30, 1991
 TORONTO, Dec. 11 /PRNewswire/ -- Fleet Aerospace, Inc., (NASDAQ: FLAI) today announced results for its year ended Sept. 30, 1991 citing significantly improved results over the previous year.
 Fleet attributed the improved results primarily to gains in operating performance and savings from reduced overhead costs. Also in fiscal 1990, a goodwill write-off of $9,500,000 on continuing operations was taken.
 FLEET AEROSPACE, INC.
 Year Ended 1991 1990
 Sales $ 48,253,000 $ 51,970,000
 Income (loss) from
 continuing operations $ 269,000 $(15,259,000)
 Per share $ 0.02 $ (2.63)
 (Loss) on discontinued
 operations $ (360,000) $ (8,966,000)
 Net (loss) $ (91,000) $(24,225,000)
 Per share $ (0.04) $ (4.16)
 -0- 12/11/91
 /CONTACT: Bruce W. Gowan, vice president and chief financial officer, or L. Dale Foster, secretary & treasurer, of Fleet Aerospace, 416-365-0565/
 (FLAI) CO: Fleet Aerospace, Inc. ST: Ontario IN: ARO SU: ERN


JT -- NY083 -- 1683 12/11/91 17:57 EST
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Publication:PR Newswire
Date:Dec 11, 1991
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