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AIR METHODS CORPORATION ANNOUNCES RECORD REVENUES FOR THE SECOND QUARTER AND SIX MONTHS ENDED DECEMBER 31, 1992

 DENVER, Feb. 10 /PRNewswire/ -- Air Methods Corporation (AMEX: ARF.EC), the nation's largest exclusive provider of air medical transportation systems and services, today reported its achievement of record revenues for the second quarter and six months ended December 31, 1992. The Company also reported its second consecutive quarter of profitability through the first half of fiscal 1993.
 Record revenues for the three months ended December 31, 1992, were approximately $6.2 million, compared with $4.6 million for the prior period. For the six months ended December 31, 1992, record revenues were achieved of $11.5 million compared with $9.2 million for the prior six month period.
 The Company also reported its continued achievement of profitability. For the three months ended December 31, 1992, the Company earned $4,000, compared to a loss for the prior period of $958,000. For the six months ended December 31, 1992, the Company generated a profit of $39,000 compared to a loss of $926,000 for the prior period.
 The Company's record revenues in the fiscal 1993 second quarter and first six months were driven primarily by the addition of three new hospital aeromedical contracts during the period, including St. Luke's Hospital of Duluth, Duluth, Minnesota; San Juan Regional Medical Center Farmington, New Mexico; and Stanford University Hospital, Stanford, California. The revenues also increased due to the recognition of revenue related to the Company's ongoing completion of the proof of principle contract involving the UH-60Q "Blackhawk," a military helicopter conversion project.
 As previously noted, in November 1991, Air Methods-Colorado, then a private company, was acquired by Cell Technology Inc., a publicly traded biotechnology research company, which had ceased internal operations as a development stage biotechnology research firm at the time of the acquisition. Consequently, comparisons of the Company's results of operations for the current periods with the results of the comparable prior periods are not meaningful, since the prior periods included only two months of aeromedical operations. As a result, the Summary Statements of Operations for the prior year periods which are shown below, combine the results of operations of Air Methods- Colorado for the month ended October 31, 1991, with the results of operations of the company for the two months ended December 31, 1991, and also combine the results of operations of Air Methods-Colorado for the four months ended October 31, 1991, with the results of operations of the company for the two months ended December 31, 1991. Such combined information is not necessarily indicative of the actual operating results that would have occurred had the acquisition occurred prior to these periods.
 Three months ended Six months ended
 Dec. 31, Dec. 31,
 ($ thousands) ($ Thousands)
 1992 1991 1992 1991
 Revenues $6,202 $4,614 $11,519 $9,201
 Net income (loss) 4 (958) 39 (926)
 Per share Breakeven N/A $.02 N/A
 Weighted average
 shares 2,573,299 N/A 2,384,589 N/A
 Air Methods Corporation is the largest exclusive provider of state-of-the-art emergency air medical transportation systems and services to hospitals throughout the United States. Air Methods now serves 43 hospitals in 12 states under 19 dedicated long-term operating agreements. The Company utilizes only IFR-certified pilots and aircraft including 27 helicopters and five 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 an outlying hospital or the scene of an accident.
 -0- 2/10/93
 /CONTACT: W. Terrance Schreier, chairman and CEO, or William H. Critchfield, executive VP & CFO, of Air Methods, 303-790-0587/
 (ARF)


CO: Air Methods Corporation ST: Colorado IN: AIR HEA SU: ERN

EH-BP -- LA011 -- 5102 02/10/93 11:18 EST
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Date:Feb 10, 1993
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