0.31%QQQQ 43.45 
0.48%XLF 21.74 3.62%
Digg
Del.icio.us
Newsvine 
Facebook
Stumbleupon
PURCHASE, N.Y. - Air freight company Atlas Air Worldwide Holdings Inc. said Thursday it swung to a first-quarter loss on higher fuel costs and lower AMC Charter revenue.
| AAWW | 52.51 |  -1.31 |
For the quarter ended March 31, Atlas posted a loss of $5.3 million, or 25 cents per share, compared with a profit of $6.2 million, or 29 cents per share, for the same quarter in 2007.
Analysts polled by Thomson Financial expected a loss of 26 cents per share.
Total operating revenue rose 5 percent to $373 million from $355.3 million in the year-ago period.
Atlas said the recent quarter's results reflected a nearly 50 percent increase in commercial fuel prices over the past year, which reduced profit at the company's scheduled service segment.
In addition, Atlas said its AMC Charter business returned to a more normalized level of flying. Revenue at the segment fell 33 percent to $4.6 million.
Atlas shares rose $1.96, or 3.3 percent, to $61.81 in morning trading.
The above adage is well known by precious-metals investors; in fact I used this quote in one of our monthly reports. I recall how many inquiries ...
Suddenly, drilling for oil is hot. Stickers bearing the slogan "Drill Alaska. Dr...
IN THE HEADLINES McCain caps GOP convention vowing 'change is coming' to Washing...
|
Professional Website Design For Corporate - Get a Free Quote Today
Partners  
|
© 2008 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives
EMAIL
PRINT
RSS
SHARE
