Air Methods' Products Division Announces New Contracts; Divisional Income for 1st Half Exceeds FY99 Total
DENVER, Sept. 14 /PRNewswire/ -- Air Methods Corporation (Nasdaq: AIRM) announced that its Products Division has been awarded four new contracts valued at approximately $1,000,000. The contracts provide for manufacturing and installation of interior systems for seven separate helicopters -- four MD 902s, two Bell 430s, and a Bell 407. Work will commence immediately, and delivery of these systems is anticipated by the end of the year.
Michael G. Prieto, Vice President of the Products Division of Air Methods Corporation, said, "We are pleased to have been awarded these contracts. Our ability to effectively integrate the functional needs and the physical requirements into the aircraft fleets of our customers in a timely and cost-efficient manner is becoming widely regarded as a significant competitive advantage. We remain focused on designing and building multi-mission aircraft interiors with a level of sophistication that is unparalleled in the industry."
Mr. Prieto, continued, "With these commitments, the Products Division has firm fiscal year 2000 revenue bookings from outside customers, as opposed to interdivisional Air Methods revenue, that exceeds our full year fiscal 1999 totals by 20%. We are also very proud, as previously announced, that Product Division consolidated income for the first six months of fiscal year 2000 already exceeds the full year 1999 total. These points lead us to believe the Products Division is on track to achieve another record year for both revenue and net income." |
