This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Air Methods Reports 1Q2013 Results And 2Q2013 Update

Stocks in this article: AIRM

– FINANCIAL STATEMENTS ATTACHED –

 
AIR METHODS CORPORATION AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands)
     
     
     
  March 31, 2013 December 31, 2011
     
     
ASSETS    
     
Current assets:    
Cash and cash equivalents  $ 11,379  3,818
Trade receivables, net  209,430  232,929
Other current assets  81,589  70,058
     
Total current assets  302,398  306,805
     
Net property and equipment  603,797  597,238
Other assets, net  211,414  214,820
     
Total assets  $ 1,117,609  1,118,863
     
     
LIABILITIES AND STOCKHOLDERS' EQUITY    
     
Current liabilities:    
Notes payable related to aircraft pending long-term financing  $ --   3,570
Current portion of indebtedness  57,778  63,139
Accounts payable, accrued expenses and other  66,736  76,743
     
Total current liabilities  124,514  143,452
     
Long-term indebtedness  605,892  581,019
Other non-current liabilities  91,028  94,782
     
Total liabilities  821,434  819,253
     
Total stockholders' equity  296,175  299,610
     
Total liabilities and stockholders' equity  $ 1,117,609  1,118,863
 
AIR METHODS CORPORATION AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Amounts in thousands, except share and per share amounts)
     
     
  Quarter Ended
  March 31,
     
  2013 2012
     
Revenue:    
Flight operations  $ 162,290  182,144
Product operations  4,434  7,232
Tourism operations  10,391  -- 
Other  2,114  1,438
Total revenue  179,229  190,814
     
Expenses:    
Operating expenses  135,442  120,022
General and administrative  28,523  24,875
Depreciation and amortization  20,122  20,879
   184,087  165,776
     
Operating income  (4,858)  25,038
     
Interest expense  (4,802)  (5,593)
Other, net  287  930
     
Income before income taxes  (9,373)  20,375
     
Income tax expense  3,684  (7,901)
     
Net income  $ (5,689)  12,474
     
Income per common share:    
 Basic  $ (0.15) 0.33
 Diluted  $ (0.15) 0.32
     
Weighted average common shares outstanding - basic 38,831,102 38,380,920
Weighted average common shares outstanding - diluted 38,831,102 38,747,448
CONTACT: Trent J. Carman, Chief Financial Officer, (303) 792-7591

Air Methods Corporation

3 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs