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AIR METHODS ANNOUNCES RECORD 1993 FIRST QUARTER REVENUES, UP 42 PERCENT OVER 1992 PRIOR PERIOD

 DENVER, Nov. 5 /PRNewswire/ -- Air Methods Corp. (NASDAQ-NMS: AIRM), the nation's largest exclusive provider of air medical services and systems, today reported record revenues of $7.5 million for the first quarter ended Sept. 30, 1993, a 42 percent increase over its 1992 first quarter revenues of $5.3 million. The 1993 first quarter record revenues illustrate the company's growing penetration of the air medical market. Exemplifying this continued market share growth was the company's execution of two new hospital air medical contracts during the quarter: St. Joseph's Hospitals and Clinics of Marshfield, Wis., and Deaconess Hospitals of Billings, Mont.
 Air Methods also recorded operating income (earnings before interest, aircraft lease expenses, taxes and depreciation) of nearly $1,220,000 for the 1993 first quarter, up 12 percent, when compared with the prior 1992 quarterly operating income of $1,128,000. Air Methods has now posted five successive quarters of like-kind operating profitability, evidencing the company's ongoing financial turn-around.
 Air Methods also reported an expected net loss for the 1993 first quarter of $253,000, compared with the 1992 first quarter net income of $35,000. As previously discussed, $218,000 of non-recurring income generated early in 1992 contributed to the 1992 first quarter net income. Furthermore, the 1993 first quarter loss was primarily due to: (1) increased expenses attributable to the air medical conversion by the company of the recently-acquired aircraft operated by Golden Eagle Aviation ("GEA"); (2) maintenance expenses related, in part, to higher- than-expected utilization of certain company aircraft; and (3) total interest expense, expected to be significantly reduced by near-term debt restructuring efforts.
 Air Methods market share expansion should continue during 1994 aided by its assimilation of revenues from the recently-completed acquisition of GEA. The GEA aircraft are now being converted to air medical operations consistent with Air Methods overall health care focus. The company expects shortly to announce additional air medical service agreements employing the newly converted GEA air medical fleet, further driving Air Methods' market share growth.
 U.S. health care changes now present compelling corporate opportunities which Air Methods may seize in order to attain a long-term market-dominating position. The costs attendant to the company's securing of this industry-leading position may, however, require the deferral of some near-term corporate profitability.
 The following data is presented as a summary of the company's comparative results of operations for the first quarter ended Sept. 30, 1993, contrasted with the results of operations for the first quarter ended Sept. 30, 1992:
 AIR METHODS CORP.
 (Amounts in thousands)
 For the Three Months Ended
 Sept. 30,
 1993 1992
 Revenues $7,457 $5,317
 Operating income(a) 1,220 1,128
 Miscellaneous income N/A 218
 Net income (loss) (253) 35
 Per share data $(.05) $.02
 Weighted average shares 5,574 2,041
 (a) Income before interest, aircraft lease expenses, taxes and
 depreciation.
 Air Methods is the largest exclusive provider of state-of-the-art emergency air medical transportation systems and services to hospitals in North America. Air Methods now serves 54 hospitals in 14 states under 21 dedicated, long-term operating agreements throughout America and will shortly begin providing similar emergency air medical services throughout Mexico, as recently announced. The company utilizes only Instrument Flight Rule (IFR)-certified pilots and aircraft, including 30 helicopters and 12 airplanes, to perform these services. In addition, Air Methods offers completely integrated airborne medical systems for administering intensive care to patients while flying to a trauma center or a tertiary care facility, either from outlying hospitals or the scene of an accident.
 -0- 11/5/93
 /CONTACT: W. Terrance Schreier of Air Methods, 303-790-0587; or Malcolm E. McGuire of CCRI, 800-828-0406/
 (AIRM)


CO: Air Methods Corp. ST: Colorado IN: AIR HEA SU: ERN

BB -- DV001 -- 1081 11/05/93 08:01 EST
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Date:Nov 5, 1993
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