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Alpine Air Express Inc. (OTCBB: APNX) announced that its operating
subsidiary Alpine Air, a leading provider of regional air cargo
transport and logistics services, stated in its 10-QSB that the
Company increased its income before taxes to $1,400,908 for the first
quarter in 2007. This represents a nearly 40% increase in profits as
compared for the same period in 2006.
The increased quarterly profits were a product of renegotiated
mainland cargo contracts, new route awards, as well as the execution
of a Joint Operating Agreement in the Hawaiian Islands. As a result of
these positive changes, Alpine Air increased its revenue per unit of
transported cargo significantly. Additionally, through the efforts of
management to control costs, the Company was able to increase net
profit from operations for this period when compared to the same
period last year.
Gene Mallette, CEO of Alpine Air, commented, "We are excited to
report the recent quarter earnings. Combined with efficient use of our
aircraft and the recent announcement that we locked in our fuel
expense for the remainder of 2007, we look forward to continued growth
of our operating profits. We are actively looking to grow our company
where it makes sense, in an attempt to take advantage of the evolving
cargo market."
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.
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