SOURCE: Alpine Air Express

February 10, 2011 06:00 ET

Alpine Air Announces Year End Financial Report

PROVO, UT--(Marketwire - February 10, 2011) - Alpine Air Express, Inc. (OTCBB: APNX) announced today that its operating subsidiary, Alpine Aviation, Inc. posted its 10-K for the fiscal year ending October 31, 2010. The Company's gross revenue was $20,118,724, a 1.7% decrease from fiscal year 2009. For the same period, net income available to shareholders was $1,440,394, or $0.04 per share.

Gene Mallette, CEO of Alpine Air, commented, "Our revenue is slightly off from last year but the overall balance sheet marks an increase. The way I see it, both sides are bound to fluctuate at least incrementally but it's consistency over the long haul that counts. We're a solid, profitable company going on 40 years in the business. In 2010 it was business as usual, and that's a good thing."

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) 373-1508
    (801) 377-3781 (fax)