Air Methods Provides 4th Quarter Update ( Key Measures In-Line with Internal Ex...)

Air Methods Provides 4th Quarter Update

Date:1/27/2009

Key Measures In-Line with Internal Expectations

Higher Employee Healthcare Costs Impact Quarter by $0.06 per share

DENVER, Jan. 27 /PRNewswire-FirstCall/ -- Air Methods Corporation (Nasdaq: AIRM), the largest air medical transportation company in the world, provided an update on fourth quarter 2008 preliminary results.

Based on preliminary 2008 fourth quarter results, total community-based patient transports were 9,496. Patients transported for community bases in operation greater than one year (Same-Base Transports) decreased 831 transports or 8%, while weather cancellations for these same bases decreased by 394 transports compared with the prior-year quarter. Excluding the benefit of lower weather cancellations, Same-Base Transports decreased 12%, consistent with the third quarter 2008 decrease.

Preliminary net revenue per community-based transport increased slightly over the third quarter 2008 result of $7,090 per transport. Net revenue per community-based transport was $6,597 in the prior-year fourth quarter.

Preliminary maintenance expenditures per flight hour were slightly lower than the prior-year quarterly result of $572 per hour. The fourth quarter 2008 preliminary maintenance expense per hour moderated significantly from $673 per hour incurred in the third quarter of 2008.

The Company also announced that preliminary employee healthcare costs expensed by the company in the fourth quarter of 2008 were $1.2 million, or $0.06 per diluted share after taxes, higher than the prior-year fourth quarter. This represents a 39% increase per employee and was attributed to several large individual claims incurred during the quarter.

The Company noted that these preliminary results are subject to final year-end closing and independent audit proced
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