Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Aviation Group Inc. (AVGP) -- Ignore unavailable to you. Want to Upgrade?

To: Master (Hijacked) who wrote (15)	5/19/1998 12:44:00 AM
From: Master (Hijacked)	Read Replies (1) \| Respond to of 30

Surprising lack of interest in a stock that just got a huge Federal Express airplane painting contract: The stock is slipping... but the AVGPW warrants are heating up big time- there is definitely a big buyer who bought big with the spread 1 1/8 by 1 5/8... even won the KingFINE "penny" contest a couple days ago... Monday May 18, 5:06 pm Eastern Time Company Press Release SOURCE: Aviation Group, Inc. Aviation Group, Inc. Unit Receives Three-Year Aircraft Painting Contract from Federal Express DALLAS, May 18 /PRNewswire/ -- Aviation Group, Inc. (Nasdaq: AVGP - news and AVGPW - news) announced today the execution of a three-year agreement between its commercial airline painting subsidiary, Pride Aviation Portland and Federal Express, the Memphis, Tennessee-based overnight package service. This contract, which represents several million dollars in annual revenues to the Company, encompasses potentially all jet aircraft types of Federal Express' fleet of approximately 600 aircraft. The work will primarily be accomplished at Pride's facility in Portland, Oregon with additional work going to Pride's New Iberia, Louisiana facility. Paul Lubomirski, President of Pride Aviation, stated, ''The selection by Federal Express is very important to us for a number of reasons. Federal Express is known for running a premier business thus requiring unsurpassed quality and consistency. Our selection as Federal Express' aircraft painting provider confirms our business objective of being the world's leader in total quality workmanship. Presently, our facilities are now heavily booked for the next three years and new facilities are under construction to handle additional customer requirements. Pride Aviation continues to market the additional availability of hangar space on a first come, first served basis'', added Mr. Lubomirski. ''Since Aviation Group acquired Pride Aviation in March 1996, management has successfully increased revenues and profitability while moving Pride away from the dependence upon one major customer'', said Aviation Group Chairman and CEO Lee Sanders. ''Pride has successfully added Boeing Commercial Airplane Group, Federal Express, Southwest Airlines, Airborne Express, and US Airways to its growing list of customers in the last two years'', added Sanders. Aviation Group is a publicly traded holding company based in Dallas, Texas. Aviation Group operates world-class painting facilities through its Pride Aviation subsidiary in New Iberia, Louisiana and Portland, Oregon. Through its Tri-Star Airline Services division, Aviation Group provides airline ground services to a variety of passenger and freight airlines at airports located across the United States. Aviation Group operates an aircraft component overhaul and distribution division. The Company's Fixed Base Operations and Airport Management division, through Casper Air Service, provides fuel, parts, and light maintenance services to general, corporate, and freight aircraft customers. Additional information can be obtained from the Company's website at www.aviationgroup.com. This press release contains statements that constitute forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that may cause or contribute to such differences include, among other things, the Company's dependence on one customer, changes in the airline travel industry, seasonality of the Company's painting business, risk of future losses from operations, the ability to make additional business acquisitions, uninsured casualty losses, environmental regulation of airline stripping and painting operations and increased competition in the airline services industry. Other risks and uncertainties include changes in business conditions and the economy in general, changes in governmental regulations, unforeseen litigation and other risk factors identified in the Company's SEC filings under ''Risk Factors.'' The Company undertakes no obligation to update these forward-looking statements for revisions or changes after the date of this press release. SOURCE: Aviation Group, Inc.