Printer Friendly

MERCURY AIR GROUP REPORTS SECOND QUARTER AND SIX-MONTH RESULTS

 LOS ANGELES, Feb. 3 /PRNewswire/ -- Mercury Air Group Inc. (AMEX: MAX) today announced results for the period ended Dec. 31, 1992. Revenues for the second quarter of fiscal 1993 rose approximately 4 percent to $20,644,000 from $19,827,000 for the same period last year. Net income in the current second quarter rose to $459,000 compared to a loss of $73,000 for the same period last year. Primary earnings per common share in the second quarter ended Dec. 31, 1992 were $0.16 compared to a per share loss of ($.04) in the same period last year. Fully diluted earnings per common share were $.10 in the current period compared to a loss of ($.04) last year.
 Revenues for the six months ended Dec. 31, 1992, increased 7.5 percent to $40,600,000 from $37,760,000 for the same period last year. Net income for the six-month period rose to $759,000 in the current year compared with $178,000 for the same period last year. Primary earnings per common share rose to $.24 in the current period compared to $.01 a year ago, and fully diluted earnings per share increased to $.17 vs. $.01 last year.
 Seymour Kahn, Chairman and Chief Executive Officer, said, "The increase in revenues and income for the first six months of fiscal 1993 reflect higher commercial fuel sales and increases in the company's military refueling and fixed base operating activities."
 Mercury Air Group, headquartered at Los Angeles International Airport, is a leading provider of aircraft services to commercial, military and general aviation industries. The company acts as a general sales agent and also provides air cargo palletization and air freight brokerage to Europe and the Middle East as well as to Central and South America.
 MERCURY AIR GROUP INC.
 Consolidated Statements of Income
 Three Months Ended Dec. 31,
 1992 1991
 Revenues $20,644,000 $19,827,000
 Operating income 2,338,000 1,443,000
 Income (loss) before taxes 792,000 (129,000)
 Provision (benefit) for taxes 333,000 (56,000)
 Net income (loss) $459,000 ($73,000)
 Dividend on preferred stock (115,000) (19,000)
 Income applicable to
 common stock $344,000 ($92,000)
 Earnings per common share:
 Primary $.16 ($.04)
 Fully diluted $.10 ($.04)
 Weighted average shares
 outstanding 2,210,499 2,161,655
 MERCURY AIR GROUP INC.
 Consolidated Statements of Income
 Six Months Ended Dec. 31,
 1992 1991
 Revenues $40,600,000 $37,760,000
 Operating income 4,282,000 3,311,000
 Income before taxes 1,309,000 312,000
 Provision for taxes 550,000 134,000
 Net income $759,000 $178,000
 Dividend on preferred stock (230,000) (152,000)
 Income applicable to
 common stock $529,000 $26,000
 Earnings per common share:
 Primary $.24 $.01
 Fully diluted $.17 $.01
 Weighted average shares
 outstanding 2,210,499 2,161,655
 -0- 2/3/93
 /CONTACT: Randy Ajer, CFO of Mercury Air Group, 310-646-2994/
 (MAX)


CO: Mercury Air Group Inc. ST: California IN: AIR SU: ERN

MS-LS -- LA001 -- 2247 02/03/93 09:15 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 3, 1993
Words:511
Previous Article:FLORIDA ROCK INDUSTRIES ANNOUNCES RESULTS
Next Article:I-FLOW EXPECTS TO REPORT APPROXIMATELY $2.0 MILLION IN REVENUES FOR THE 1992 YEAR, A 700 PERCENT INCREASE OVER THE PRIOR YEAR
Topics:


Related Articles
MERCURY AIR GROUP REPORTS THIRD QUARTER AND NINE-MONTH RESULTS
MERCURY AIR GROUP REPORTS THIRD QUARTER AND NINE MONTHS RESULTS
MERCURY AIR GROUP SECOND QUARTER NET INCOME JUMPS 47% ON AN 84% INCREASE IN REVENUE
MERCURY AIR GROUP REPORTS RECORD FIRST QUARTER RESULTS AS NET INCOME INCREASES 23% ON A 46% GAIN IN REVENUE
MERCURY AIR GROUP SECOND QUARTER NET INCOME JUMPS 16% ON AN 13% INCREASE IN REVENUE
MERCURY AIR GROUP (ASE) THIRD QUARTER REVENUE INCREASES 15% TO $57,225,000
Mercury Air Group Reports Record 1996 Income & Revenues
Mercury's Maytag Aircraft Corporation Becomes U.S. Air Force's Major Worldwide Provider of Contracted Air Terminal Services
Mercury Air Group's Third Quarter Net Income Up 24.9%
Mercury Air Group, Inc. Reports Third Quarter Results and Loss of Customer Accounts.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters