SOURCE: Alpine Air Express

September 23, 2010 06:00 ET

Alpine Air Announces Gross Profit Increase

PROVO, UT--(Marketwire - September 23, 2010) - 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, 2010. The Company's gross revenue for the quarter was even ($4,823,087) for the same period as in 2009, and its gross profit was $1,434,880, representing a 37% increase for the same period in 2009.

Gene Mallette, CEO of Alpine Air, commented, "Our revenue is right where it was for the quarter last year, but everything else is up significantly; gross profit, net income, assets and cash flow. I see it as part of an overall recovering economy, albeit a slow but relatively steady one. I'm optimistic about the years just ahead, for Alpine and the larger economy."

Joe Etchart, Chairman of the Board, added, "We're operating under long-term contracts and have the luxury to make sound financial decisions accordingly. It helps to know the framework and that's one of the reasons why our margins are consistently strong, and have been so for several years now."

Founded in 1972, 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, South Dakota, Nebraska, Colorado and Wyoming. 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)377-3781 (fax)