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UPDATE 1-AAR Corp Q1 earnings fall

Tue Sep 22, 2009 5:42pm EDT

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* Q1 EPS $0.27 vs. $0.38 a year ago

* Q1 sales down 5 pct

Sept 22 (Reuters) - AAR Corp (AIR.N), a provider of parts and maintenance services to the aviation industry, reported a fall in quarterly profit, hurt by lower sales as the industry further reduced inventory levels and maintenance in a weak economy.

For the first quarter ended Aug. 31, the company reported earnings of $10.2 million, or 27 cents a share, compared with earnings of $15 million, or 38 cents a share in the year-ago period.

Sales fell 5 percent to $341.5 million. Sales to defense and government customers rose 4 percent, while sales to commercial customers fell 12 percent.

Analysts on average were expecting earnings of 25 cents a share, before items, on revenue of $336.4 million, according to Reuters Estimates.

Shares of the Wood Dale, Illinois-based company closed at $18.99 Tuesday on the New York Stock Exchange. (Reporting by Bijoy Koyitty in Bangalore; Editing by Maju Samuel)



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