SOURCE: Alpine Air Express

February 02, 2010 06:30 ET

Alpine Air Express Posts Operating Profit of $1,629,011 as Shown on Its Recent 10-KSB Filing

PROVO, UT--(Marketwire - February 2, 2010) - Alpine Air Express, Inc. (OTCBB: APNX) announced in its Form 10-KSB that during the year ended October 31, 2009, total operating revenues were up slightly. The Company earned a net profit from operations before income taxes and preferred stock dividends in the amount of $1,629,011. During the year ended October 31, 2009 total operating revenues were $20,464,409, representing a 3% increase from the 2008 revenues. This increase is primarily attributable to Alpine's growing leasing business.

Gene Mallette, CEO of Alpine Air, added, "2009 was a challenging year for all of our team, as well as the nation. In September 2009, I am proud to say that our Company was successful in its efforts to renew its Montana/South Dakota/North Dakota contracts with the US Postal service. These renewed contracts will run for six years through September 5, 2015. Notwithstanding the trying economic year, our team was successful in carrying over 9,673 tons of cargo throughout the year. This demonstrates the tremendous effort our flight crew, ground operations and management team have dedicated toward providing superior service to our customers. We look to 2010 as a solid year with continued growth opportunities."

Founded in 1975, Alpine Air, a wholly owned subsidiary of Alpine Air Express, Inc., provides competitively priced scheduled air cargo flights throughout the western and southwestern United States. The company has an established client base that includes various contract operations, freight forwarders, and other cargo and logistics firms. Alpine Air provides superior "on time" performance and reliability, together with the flexibility to adapt quickly to the growing frequency and capacity requirements of its clients.

This press release may contain forward-looking statements including the company's beliefs about its business prospects and future results of operations. These statements involve risks and uncertainties. Among the important additional factors that could cause actual results to differ materially from those forward-looking statements are risks associated with the overall economic environment, the successful completion of the proposed leasing transaction, changes in anticipated earnings of the company and other factors detailed in the company's filings with the SEC. In addition, the factors underlying company forecasts are dynamic and subject to change and therefore those forecasts speak only as of the date they are given. The company does not undertake to update them; however, it may choose from time to time to update them and if it should do so, it will disseminate the updates to the investing public.

Contact Information

  • Contact Information:
    Alpine Air Express, Inc., Provo
    Michael Dancy