Atlas Air Worldwide Holdings (AAWW)

Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW), a leading provider of global air cargo assets and outsourced aircraft operating services, expects fourth-quarter 2009 net income to exceed $1.10 per diluted share, or $26.5 million, exceeding the Company's previous expectations of more than $0.74 per diluted share, or $18.0 million, for the quarter. Full-year 2009 net income is expected to total more than $3.48 per diluted share, or $75.9 million, compared with previous expectations of over $3.09 per diluted share, or $67.4 million. For fiscal 2010, it expects net earnings of approximately $80.0 million, or $3.08 per diluted share. For the first quarter of 2010, it expects earnings to be consistent with the first-quarter 2009 results. The Company reported net profit of $21.16 million and earnings per share (EPS) of $1.01 for the first quarter of 2009. According to Reuters Estimates, analysts on an average are expecting the Company to report net profit of $71.5 million and EPS of $2.79 for fiscal 2010; net profit of $12.23 million and EPS of $0.47 for the first quarter of 2010.
“Our strong earnings performance in the fourth quarter was driven by a combination of a significantly improved peak-season airfreight demand, a tight supply environment, and continued strength in military charter demand,” said William J. Flynn, President and Chief Executive Officer of AAWW. “Results for the quarter and the full year also reflected the strategic actions we have taken to transform our business, our operating cost base, and our fleet throughout 2008 and 2009.

Feb 25 · 2:54:00 PM · Source: Company Press Release
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by Steve Wieczorek