Alpine Air Announces Gross Profit Increase
Alpine Air Express, Inc. (OTCBB: APNX) announced that its operating subsidiary, Alpine Aviation Inc., posted its 10-Q for the quarter ending April 30, 2010. The Company's gross revenue for the quarter was $5,053,035, a 3% decrease from the same period in 2009, and its gross profit was $1,434,880, a 40% increase from the same period in 2009.
Gene Mallette, CEO of Alpine Air, commented, "Our profit increase is attributable to the additional aircraft and operations we have available, outside of our long-term contracts, which we can utilize in a variety of ways, including leasing, sales and acquisitions. With these additional resources, we're aggressively pursuing new markets to strengthen our core business."
Joe Etchart, Chairman of the Board, added, "We're thankful for the relationships we have with our clients, going back many years, and we look forward to forging new partnerships. While continuing to focus on serving our clients with care and reliability, the way we have for decades, we're fortunate to be in possession of the means to grow pragmatically, and for years to come."
Founded in 1972, Alpine Aviation, Inc., d/b/a Alpine Air, a wholly owned subsidiary of Alpine Air Express Inc., provides air cargo transportation services in the United States, and is currently operating in Montana, North Dakota, and South Dakota. In addition to air cargo transportation, the Company flies charters for other cargo carriers, provides maintenance service on aircraft owned and operated by third parties, leases aircraft, and operates a First Officer Training Program.
