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Alpine Air Express Announces 2008 Second Quarter EBIT and Dividend Earnings of over $414,000

PROVO, Utah-(Business Wire)-June 18, 2008 - Alpine Air Express Inc. (OTCBB: APNX), announced that its operating subsidiary, Alpine Aviation Inc., a leading provider of regional air cargo transport and logistics services, stated in its 10-QSB that the Company reported net income, for the quarterly period ended April 30, 2008, before taxes and preferred stock dividends was $414,663.

Net income for the six months ended April 30, 2008 increased over 76% to $1,359,335 from $769,452 for the same period in 2007. Additionally for the same period, the Company's ending cash position and cash equivalents increased by over 110% to $1,777,959 from $843,824.

Gene Mallette, CEO of Alpine Air, commented, "Our second quarter net income before taxes and preferred stock dividends was $414,663. This was quite strong in light of increasing fuel expenses. However, a significant highlight was our ability to increase our net income and cash and cash equivalent positions by over 76% and 110% respectively when comparing the six months ended April 30, 2008 verses the same period in 2007. In the airline or air-cargo business, an ability to increase earnings and cash during recessionary periods is critical to long term growth. In fact, Utah Business reported in its June, 2008 issue, "Utah's Top Public Companies," that Alpine Air Express ranked #2 in Return on Equity, #4 in Return on Assets and #4 in Net Income per Employee for 2007 among all of Utah's public companies. Our management team is keen to continue to grow and make a significant impact to increasing jobs in the areas we serve. We currently service 94 Daily Departures in: North Dakota & South Dakota, Montana, Hawaii, Nebraska, and Colorado."

Mallette added, "Alpine management is continually trying to stay ahead of escalating fuel prices. We have added additional routes during times when our aircraft were previously idle. The resultant profit from these routes helps offset our corporate-wide fuel expenses. We have diversified our client base with many new routes from major worldwide cargo carriers, which includes fuel to fly the routes. Additionally, we plan for escalating fuel costs when we negotiate our contracts. These and other key management decisions allow our company to thrive and grow in these recessionary times."

Founded in 1975, Alpine Air, a wholly owned subsidiary of Alpine Air Express Inc., provides competitively priced scheduled air cargo flights throughout the western and southwestern United States. The Company has an established client base that includes various contract operations, freight forwarders, and other cargo and logistics firms. Alpine Air provides superior "on time" performance and reliability, together with the flexibility to adapt quickly to the growing frequency and capacity requirements of its clients.

This press release may contain forward-looking statements including the Company's beliefs about its business prospects and future results of operations. These statements involve risks and uncertainties. Among the important additional factors that could cause actual results to differ materially from those forward-looking statements are risks associated with the overall economic environment, changes in anticipated earnings of the company and other factors detailed in the company's filings with the SEC. In addition, the factors underlying company forecasts are dynamic and subject to change and therefore those forecasts speak only as of the date they are given. The company does not undertake to update them; however, it may choose from time to time to update them and if it should do so, it will disseminate the updates to the investing public.

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