AAR reports fourth quarter and fiscal 2009 results

AAR reported fiscal year 2009 fourth quarter consolidated sales of $371.7 million and income from continuing operations of $20.5 million. Sales decreased 5% from $391.7 million reported in the fourth quarter of last year, and diluted earnings per share from continuing operations decreased 6%. Fourth quarter results include a $10.1 million impairment charge related to inventory acquired before September 11, 2001 and a $1.4 million loss on the sale of marketable securities. Results for the fourth quarter of fiscal year 2009 also include a $10.0 million gain on the early extinguishment of debt.