AAR Experiences Steady Increase in Military Business
WOOD DALE, Ill., /PRNewswire via COMTEX/ -- AAR (NYSE: AIR) announced today that the Company has received more than $16 million in U.S. military orders since September 1, 2001.
These orders consist of $11 million for various types of containers, shelters, and integrated command posts. An additional $5 million in orders, with options in excess of $3 million, were received for spare parts primarily in support of the U.S. Air Force tanker aircraft, and U.S. Army, Air Force and Navy helicopters.
"In Fiscal Year 2001 government sales were approximately 16% of total sales. As the demand for products and services in support of defense needs increase, AAR will experience steady growth in this market segment", said AAR President and CEO, David P. Storch. "We have experienced an increase in orders this quarter, and believe that this trend will continue. With our broad range of military support services, and a constant focus on developing new capabilities, we are well positioned to provide full service support to the U.S. government."
AAR is the preeminent provider of products and value-added services to the worldwide aerospace/aviation industry. Products and services include proprietary inventory management and logistic support services, encompassing supply, repair and manufacture of spare parts and systems. Headquartered in Wood Dale, Illinois, AAR serves commercial and government aircraft fleet operators and independent service customers throughout the world. Further information can be found at www.aarcorp.com.
This press release contains certain statements relating to future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on beliefs of Company management as well as assumptions and estimates based on information currently available to the Company, and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated, depending on a variety of factors, including: implementation of information technology systems, integration of acquisitions, marketplace competition, economic and aviation/aerospace market stability and Company profitability. Should one or more of these risks or uncertainties materialize adversely, or should underlying assumptions or estimates prove incorrect, actual results may vary materially from those described.
SOURCE AAR CORP.
CONTACT: Dawn Kaiser of AAR Corp., Investor Relations, +1-630-227-2098, or firstname.lastname@example.org
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