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Air Methods Reports 1Q2008 Results and 2Q2008 Update
Date:5/8/2008

Total current liabilities 88,265 102,099

Long-term indebtedness 74,829 76,751

Other non-current liabilities 48,108 48,682

Total liabilities 211,202 227,532

Total stockholders' equity 145,407 142,020

Total liabilities and stockholders'

equity $356,609 369,552

AIR METHODS CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS

(Amounts in thousands, except share and per share amounts)

Quarter Ended

March 31,

2008 2007

Revenue:

Flight operations $114,473 79,161

Product operations 3,626 2,297

Total revenue 118,099 81,458

Expenses:

Operating expenses 91,979 58,493

General and administrative 17,146 12,151

Depreciation and amortization 4,098 3,411

113,223 74,055

Operating income 4,876 7,403

Interest expense (1,567) (1,422)

Other, net 643 455

Income before income taxes 3,952 6,436

Income tax expense (1,622) (2,738)

Net income $2,330 3,698

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SOURCE Air Methods Corporation
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