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Microcap & Penny Stocks : Air Methods (airm)
AIRM 42.950.0%Apr 24 5:00 PM EST
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To: Elliot Lepler who wrote (685)8/13/1998 10:06:00 AM
From: Hijacked Account  Read Replies (1) of 877
 
Airm's numbers are not as good as they look.

First in Q1, we had a one time gain on the insurance settlement which accounted for all of AIRMS earnings. Without this AIRM breaks even.

Secondly, AIRM has significantly lowered its bad debt expense -(which is good), however, the reduction is offset with higher other operating expenses.

Last year AIRM accrued 25 % of Mercy sales to bad debt. This year, it is running half as much. This lower expense has helped 1998 earnings by 11 cents.

Therefore, without the one time gain and the lower bad debt expense, AIRM would have reported operating losses for the first half of 1998!
Also, we had lower fuel expenses in Q2 that should have also helped the numbers.

Despite this, I am still bullish longer term. It's going to take one more year to see the payoff. I was hoping for the double in 1998.
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