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TheStreet Open House

Air Methods Reports 1Q2013 Results And 2Q2013 Update

Stocks in this article: AIRM

The Company also provided an update on preliminary April 2013 flight volume. Total community-based transports decreased 7% to 4,417 during April 2013, compared with 4,745 in April 2012. April 2013 Same-Base Transports decreased by 435 transports, or 9%, as compared with April 2012. Weather cancellations during April 2013 for these same bases decreased by 8 compared with the prior-year month. 

Aaron Todd, CEO, stated, "As previously disclosed, we believe a greater severity in weather and weaker payer mix had a significant influence on our first quarter results. In addition, the lower flight volumes did not translate into lower maintenance expense, as there is often a delay in the expense benefit associated with decreased flight activity. Once weather moderates during the spring and summer months, we will be better able to isolate whether weak demand and payer mix were solely weather-related or reflect other factors."     

The Company will discuss these results in a conference call scheduled today at 4:15 p.m. Eastern. Interested parties can access the call by dialing (877) 883-0656 (domestic) or (706) 643-8826 (international) or by accessing the web cast at www.airmethods.com . A replay of the call will be available at (855) 859-2056 (domestic) or (404) 537-3406 (international), access number 64210826, for 3 days following the call and the web cast can be accessed at www.airmethods.com for 30 days.

Air Methods Corporation ( www.airmethods.com ) is the global leader in air medical transportation. The Air Medical Services Division is the largest provider of air medical transport services for hospitals and one of the largest community-based providers of air medical services. United Rotorcraft Division specializes in the design and manufacture of aeromedical and aerospace technology. The Tourism Division is comprised of Sundance Helicopters, Inc., which provides helicopter tours and charter flights, primarily focusing on Grand Canyon tours. Air Methods' fleet of owned, leased or maintained aircraft features over 400 helicopters and fixed wing aircraft.

Forward-Looking Statements: Forward-looking statements in this news release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this press release that are "forward-looking statements," including statements regarding the Company's preliminary April 2013 flight volume, and our belief that the severity in weather and weaker payer mix had a significant influence on first quarter results, are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors, including but not limited to, the size, structure and growth of the Company's air medical services and United Rotorcraft Division; the collection rates for patient transports; the continuation and/or renewal of air medical service contracts; the final results of April 2013 flight volume; weather conditions across the U.S.; development and changes in laws and regulations, including, without limitation, the impact of the Patient Protection and Affordable Care Act; increased regulation of the health care and aviation industry through legislative action and revised rules and standards; and other matters set forth in the Company's filings with the SEC. The Company is under no obligation (and expressly disclaims any obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

Please contact Christine Clarke at (303) 792-7579 to be included on the Company's e-mail distribution list.

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