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Non-Tech : KTTY Kitty Hawk - Air transportation. Long term goodie.
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To: Qualopec who wrote (19)3/19/1998 1:31:00 PM
From: John Brickman  Read Replies (1) of 51
 
Dow Jones Newswires

DALLAS -- Kitty Hawk Inc. (KTTY) is 'concerned' about its first quarter
earnings due to poor operating results at its American International
Airways Inc. unit.

Kitty Hawk acquired American International Airways last November for
about $89.7 million in cash and stock.

In a press release Thursday, the company said it remains confident in the
long-term benefits of the merger.

Chairman and Chief Executive Tom Christopher told Dow Jones in
February he expected the American International acquisition to be
'somewhat dilutive' in the first two quarters and accretive in the second half
of the year.

For the year-ago first quarter ended March 31, 1997, the air freight
carrier service provider earned $1.4 million or 14 cents a share on
revenues of $28.1 million.

A First Call survey of three analysts predicted the company would earn 12
cents a share in the first quarter.
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