"As expected, the 2007 non-cash income tax expense .." article | ABXA Message Board Posts

  •  Registered Members of Investor Village:
    Please make sure you are signed in to your Investor Village account to enjoy the full benefits of our service and avoid the MediaPass paywall. If the MediaPass offer page is blocking you, click the light blue "No thanks, take me back" link on the middle right side of the form to get to our home page where you can sign in by entering your Investor Village User Name and Password. 

     MediaPass subscribers: Please make sure you are logged in to your MediaPass subscription to bypass the paywall. You can do this by clicking the light blue "Already have a MediaPass account? Login here" link on the middle left side of the subscription offer form and then entering the email address and password you used when you first signed up with MediaPass.  

    For assistance call 888-222-7309 or email admin@investorvillage.com

ABXA   /  Message Board  /  Read Message

 

 






Keyword
Subject
Between
and
Rec'd By
Authored By
Minimum Recs
  
Previous Message  Next Message   Post Message   Post a Reply return to message boardtop of board
Msg  119 of 126  at  5/9/2007 1:49:24 PM  by

Cindylewindy


"As expected, the 2007 non-cash income tax expense .." article

Business news - local news

Line-haul loss bites into ABX revenues, earnings

Cincinnati Business Courier - 11:27 AM EDT Wednesday, May 9, 2007

When ABX Air's main customer, DHL, assumed management of its line-haul operation in 2006, it took a chunk of the cargo airline's revenues with it.

ABX posted first-quarter net income of $4.3 million, or 7 cents per share, in line with analysts' expectations, but down from $8.1 million, or 14 cents per share, in the year-ago quarter. Revenues dropped to $288.1 million from $369.2 million in first-quarter 2006.

During the quarter, ABX took a charge of $2.6 million, or 4 cents per share, for a deferred income tax expense. It received $1.3 million, or 2 cents per share, in income from the line-haul operation taken over by DHL.

In early May, the company announced a contract under which it will operate several cargo aircraft for All Nippon Airways in that airline's Asia markets.

"As expected, the 2007 non-cash income tax expense and last year's transition of line-haul to DHL had a significant effect on year-over-year comparisons," said Joe Hete, president and CEO. "On the other hand, our business is better positioned for growth as an independent provider of air cargo services than it was a year ago, and our new agreement with All Nippon Airways launches us into new global markets."

The airline saw growth in its non-DHL segments: charter revenues grew to $7 million during the quarter, from $3.9 million a year ago. Other business, including mail-handling for the U.S. Postal Service and aircraft maintenance services, grew to $8.1 million from $4.5 million in the year-ago quarter.

Shares of ABX (NASDAQ: ABXA) fell 15 cents, to $6.39, in Wednesday morning trading.

ABX Air, headquartered in Wilmington, is a cargo airline with a fleet of 112 aircraft and 18 hubs throughout the United States.



     e-mail to a friend      printer-friendly     add to library      
| More
Recs: 0     Views: 866
Previous Message  Next Message   Post Message   Post a Reply return to message boardtop of board






About Us  •  Contact Us  •  Follow Us on Twitter  •  Members Directory  •  Help Center  •  Advertise
Not a member yet? What are you waiting for? Create Account
Want to contribute? Support InvestorVillage by donating
© 2003-2019 Investorvillage.com. All rights reserved. User Agreement
   
Financial Market Data provided by
.


Loading...