SOURCE: Alpine Air Express

September 17, 2009 06:28 ET

Alpine Air Announces Gross Profit Increase

PROVO, UT--(Marketwire - September 17, 2009) - Alpine Air Express, Inc. (OTCBB: APNX), announced today that its operating subsidiary, Alpine Aviation Inc., posted its 10-Q for the quarter ending July 31, 2009. The Company's gross revenue for the quarter was $4,823,402, an 8% decrease from the same period in 2008, and its gross profit was $1,037,177, a 46% increase from the same period in 2008. The decrease in revenue and increase in profit are primarily attributable to the reduction of the Company's routes in the Hawaiian Islands.

Gene Mallette, CEO of Alpine Air, commented, "Naturally we're very excited about our profit increase during what were transitional months. Alpine realized over a million dollar return this quarter while shifting gears and we're thankful for the great effort on behalf of our management team and excellent staff of pilots and ground personnel. Having moved operations out of Hawaii, we're concentrating on our core routes in the intermountain west, while simultaneously and conservatively at the ready for new opportunities. We're fortunate to be realizing increasing profits while possessing operational availability for future prospects."

Mr. Mallette added, "Alpine decreased its total direct operating costs in fuel and most other expense categories, as a result of the termination of operations in Hawaii. As announced earlier this week, our Montana, North Dakota and South Dakota airmail contracts have extended for an additional 6 years, generating in excess of $72 million in contracted revenue."

Founded in 1975, Alpine Aviation, Inc., d/b/a Alpine Air, a wholly owned subsidiary of Alpine Air Express Inc., provides air cargo transportation services in the United States, and is currently operating in Montana, North Dakota, and South Dakota. In addition to air cargo transportation, the Company flies charters for other cargo carriers, provides maintenance service on aircraft owned and operated by third parties, leases aircraft, and operates a First Officer Training Program.

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, 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.
    1177 Alpine Air Way
    Provo, Utah 84601
    (801) 373-1508
    (801) 377-3781 (fax)