Air Transport Services Group, Inc. (NASDAQ:ATSG) today reported financial results as follows for the first quarter of 2012:
|Summary GAAP Results (detailed financial statements at end of this release)|
|Quarter Ended March 31,|
|(in millions, except per-share amounts)||2012||2011||$ Change|
|Pre-tax Earnings from Continuing Operations||$||10.7||$||4.6||6.1|
|Net Earnings from Continuing Operations||$||6.7||$||2.9||3.8|
|Earnings Per Share from Continuing Operations||$||0.10||$||0.04||0.06|
|Adjusted (non-GAAP) Results *|
|Revenues excluding Reimbursed Expenses||$||128.7||$||130.9||(2.2||)|
|Adjusted Pre-tax Earnings from Continuing Operations||$||10.3||$||11.4||(1.1||)|
|Adjusted EBITDA from Continuing Operations||$||34.1||$||37.8||(3.7||)|
* A table defining and reconciling adjusted results to comparable GAAP measures is provided at the end of this release.
“Our earnings for the first quarter are in line with the pace we had outlined in our fourth-quarter conference call in March,” Joe Hete, President and CEO of ATSG, said. “In addition to the higher pension and restructuring costs we projected, we faced delays in obtaining customer commitments to new aircraft operating agreements. The good news is that many of our customers, and DHL in particular, are growing, and have plans to deploy more of our freighter aircraft into both domestic as well as new, non-U.S. markets throughout the course of the year.”
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV