WOOD DALE, Ill., June 14,
2012/PRNewswire/ -- AAR CORP. (NYSE: AIR) announced
today that its Board of Directors authorized the Company to
repurchase up to $50 millionof its outstanding
shares of common stock.
"Upon review of the Company's performance, its
long-term value and prospects, and the recent trading range
of its common stock, the Board determined that a stock
repurchase program of up to $50 millionwas in
the best interests of the Company's stockholders,"
said David P. Storch, Chairman and Chief
Executive Officer of the Company.
The Company will fund any repurchases through available
cash and cash generated from operations. The Company
may repurchase shares from time to time on the open market
or in private transactions in accordance with applicable
U.S. federal securities laws and regulations, including SEC
Rule 10b-18. The timing and size of any repurchases
will depend on price, market conditions, and other factors
as determined by the Company's management, in its
discretion. The program, which replaces an earlier
stock repurchase program in effect since 2006, may be
modified, suspended or discontinued at any time.
AAR is a leading provider of value added products and
services to the worldwide aerospace and government/defense
industries. With facilities and sales locations around the
world, AAR uses its close-to-the-customer business model to
serve aviation and government/defense customers through
four operating segments: Aviation Supply Chain;
Maintenance, Repair and Overhaul; Structures and Systems;
and Government and Defense Services. More 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,
including those factors discussed under Item 1A, entitled
"Risk Factors", included in the Company's
Form 10-K for the fiscal year ended May 31,
2011. 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. These
events and uncertainties are difficult or impossible to
predict accurately and many are beyond the Company's
control. The Company assumes no obligation to update
any forward-looking statements to reflect events or
circumstances after the date of such statements or to
reflect the occurrence of anticipated or unanticipated
events.Securities and Exchange Commission.
SOURCE AAR CORP.
Rick Poulton, Chief Financial Officer, AAR CORP.,