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Microcap & Penny Stocks : Air Methods (airm)

AIRM 42.95

0.0%

Apr 24 5:00 PM EST

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To: Elliot Lepler who wrote (174)	12/30/1997 12:35:00 AM
From: Annie	Read Replies (1) of 877

Air Methods Corporation Announces Helicopter Sale to its Brazilian Franchise DENVER, Dec. 30 /PRNewswire/ -- Air Methods Corporation (Nasdaq: AIRM) today announces that it has sold one of its Bell 206L-3 helicopters to its Brazilian franchise partner, Flamingo Unimed Air Taxi Aereo LTDA. The sale was structured as a sales-type lease arrangement to be financed by Air Methods over a seven-year term. The aircraft sold for $695,000. "This transaction represents the sixth aircraft to be placed in service by our Brazilian franchise partner since commencing operations in January 1996. We are pleased with the continued growth being generated by Unimed via the franchise model," said George Belsey, the company's Chief Executive Officer. "Air Methods' acquisitions of new Bell 407 aircraft resulted in an excess Bell 206L-3 helicopter in the company's fleet. Selling this aircraft to Unimed allows Air Methods to benefit from the successful disposition of the ship while generating growth opportunities for our Brazilian franchise at the same time. The company's future earnings also will be favorably impacted through the recognition of interest income from the transaction over the term of the financing," said Belsey. Based in metropolitan Denver, Air Methods is an exclusive provider of state-of-the-art emergency air medical transportation systems and services to hospitals and individuals throughout the United States. Air Methods also manufactures medical interiors for civilian, military and international organizations. These estimates constitute forward-looking information. Although such estimates are based on reliable information and past experience, operating results are affected by a wide variety of factors, many of which are beyond the control of the company. These factors include successful performance by Unimed of the terms of the sales-type lease agreement.

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