AIR EXPRESS INTERNATIONAL REPORTS 47% INCREASE IN FIRST QUARTER RESULTS.DARIEN Darien, town, United States Darien (dâr`ēĕn'), residential town (1990 pop. 18,130), Fairfield co., SW Conn., on Long Island Sound; settled c.1641, inc. 1820. , Conn.--(BUSINESS WIRE)--May 3, 1995--Air Express International Corporation today reported net income of $5,113,000, an increase of 47% over the first quarter of 1994. Earnings per share for the first quarter were $.29 primary and $.28 fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. compared to $.20 for the first quarter of 1994. Revenues for the quarter increased 39% to $284,073,000, operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. increased 42% to $8,585,000, and pre-tax pre-tax adj → anterior al impuesto pre-tax adj → avant impôt(s) pre-tax adj → al lordo d'imposta income increased 50% to $8,304,000. In commenting on the results, Dennis Dennis is a male first name derived from the Greco-Roman name Dionysius meaning "servant of Dionysus", the Thracian god of wine, which is ultimately derived from the Greek Dios (Διος, "of Zeus") combined with Nysos or Nysa (Νυσα), where the M. Dolan, Vice President and Chief Financial Officer, said, "The strong results for the first quarter 1995 were due to significantly stronger shipping volumes worldwide. While all major regions of the world performed well during the quarter, our United Kingdom and United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. operations reported the most improved results over the first quarter of 1994." -0-
(Dollars in thousands, For the Quarter
except per share data) Ended March 31
1995 1994
(Unaudited)
Gross revenues $284,073 $204,810 Income before income taxes $ 8,304 $ 5,544 Provision for taxes on income 3,191 2,062 Net income $ 5,113 $ 3,482
Earnings per share:
Primary $ .29 $ .20
Fully diluted $ .28 $ .20
Weighted average number of
common shares (000):
Primary 17,833 17,510
Fully diluted 21,204 20,834
-0-
CONTACT: Dennis M. Dolan, Vice President and Chief Financial Officer 203/655-5713 |
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