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ATSG Reports Results For Third Quarter 2012

Air Transport Services Group, Inc. (NASDAQ:ATSG) today reported financial results as follows for the third quarter of 2012:

 
Summary GAAP Results
  Quarter Ended     Nine Months Ended
September 30, September 30,
(in millions, except per share amounts)   2012   2011   Chg. 2012   2011   Chg.
Revenues $ 153.8   $ 195.5   $ (41.7 ) $ 452.9   $ 563.7   $ (110.8 )
Pre-tax Earnings (Loss) from Continuing Operations $ 19.0 $ (6.7 ) $ 25.7 $ 47.9 $ 17.6 $ 30.3
Net Earnings (Loss) from Continuing Operations $ 11.6 $ (4.8 ) $ 16.4 $ 29.4 $ 10.3 $ 19.1
Earnings (Loss) Per Share from Continuing Operations   $ 0.18     $ (0.08 )   $ 0.26   $ 0.46     $ 0.16     $ 0.30  
Adjusted (non-GAAP) Results *                      
Revenues excluding Reimbursed Expenses $ 133.4 $ 151.4 $ (18.0 ) $ 395.2 $ 425.7 $ (30.5 )
Adjusted Pre-tax Earnings from Continuing Operations $ 18.7 $ 22.4 $ (3.7 ) $ 46.9 $ 53.0 $ (6.1 )
Adjusted EBITDA from Continuing Operations   $ 43.4     $ 48.3     $ (4.9 )     $ 120.6     $ 132.7     $ (12.1 )

* A table defining and reconciling adjusted results to comparable GAAP measures is provided at the end of this release.

Joe Hete, President and CEO of ATSG, said, "Our results for the third quarter of 2012 were in line with the outlook we provided in August. We continued to pursue further deployment of freighter aircraft and the reorganization of two of our airlines, which will result in meaningful savings in 2013. However, we continue to experience the effects of the soft air-freight market."

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