Air Methods Products Division Completes Two Contracts; Awarded Additional Contract
DENVER, June 12 /PRNewswire/ -- Air Methods Corporation (Nasdaq: AIRM) announced today its Products Division has completed and delivered two aircraft and equipment for another three aircraft as part of previously-announced orders for multi-mission interiors. Additionally, Air Methods has received a follow-on order from Petroleum Helicopters, Inc., a provider of various helicopter-based services, for an emergency medical interior system.
Petroleum Helicopters, has ordered an emergency medical system interior for a Bell aircraft. The contract represents a follow-on order and will be the third such system contracted to Air Methods.
Both completed contracts were for police department customers. Air Methods has shipped two MD902 aircraft equipped with multi-mission interior system and aircraft modifications to the Suffolk (N.Y.) County Police Department for use in law enforcement, search and rescue and primary emergency medical transport. Air Methods has also shipped emergency medical systems equipment for three Bell 430 aircraft for the New York State Police. Air Methods has delivered its equipment to the company tasked with the aircraft's completion. The finished aircraft will be delivered to the New York State Police in June.
Air Methods' Products Division's revenue reached $8.4 million for the Division in fiscal 2000, a 7% increase compared to revenue in fiscal 1999. External revenue increased 30% to $6.5 million compared to $5.0 million in 1999, while the Division doubled its external divisional net income as compared with the prior year. This performance did not include the anticipated full production contracts for two significant manufacturing programs for the U.S. Army's HH-60L (formerly known as the UH-60Q) Multi-Mission Medevac System and U.S Air Forces' Spinal Cord Injury Transport System (SCITS).
"Air Methods has become the leading provider of specialty aircraft interior solutions for federal, state and local government organizations, public safety organizations and aeromedical companies nationwide," said Michael Prieto, Vice President of Air Method's Products Division.
The Products Division is a leader in designing, manufacturing, installing and certifying multi-mission and medical interior systems in aircraft. The Division has been awarded certificates of registration for the following International Organization for Standardization standards -- ISO 9001: 1994 (Quality Systems) and EN 46001 (Medical Devices). |
