AAR Corp. to pursue sale of COCO business
"As a result of winning the INL/A WASS contract and ramping up our services during the transition period, we have repositioned our key resources to focus on this program into our government-owned, contractor-operated business and have decided to pursue the sale of our COCO business. The COCO business has been reported as discontinued operations for all periods presented. We have recognized a goodwill impairment charge of $9.8 million within discontinued operations related to the COCO business." Holmes continued, "Our decision to shift our focus and essential resources to the GOCO business is designed to deliver superior service to our government customers. This shift is also important to delivering world class service to the DoS on the recently commenced INL/A WASS program. We expect to be fully operational on the INL/A WASS program in May at which point the program will be a contributor to earnings."