Tomorrow's news tonite:
Air Methods Expects to Report 2Q99
Record Profit of $0.09-$0.11 Per Share
DENVER, Colo., July 22, 1999 -- Air Methods Corporation (NASDAQ NMS: AIRM) said it expects to report a profit of $0.09 to $0.11 per share for the second quarter ended June 30, 1999, which would result in year-to-date earnings of $0.16 to $0.18 per share.
Aaron Todd, Chief Financial Officer, noted that the record earnings were the result of strong performance from all three profit centers. Strong flight volumes, on-budget maintenance expenditures, and continued solid collections from third-party medical transport billings contributed to a successful quarter. Additionally, the Products Division remained consistent in generating profitable results for the quarter, following a strong first quarter.
Mr. Todd commented, “Given this second quarter performance, the Company is well on its way to exceeding our record 1997 earnings of $0.21 per share. The investments made in 1998 to significantly expand operations and revenues within each business segment are now generating favorable returns in 1999. We look forward to a continuation of these returns for the balance of the year.”
Actual second quarter results are expected to be announced in early August. In the year ago second quarter, the Company reported net income of $0.04 per share. |
