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Air Methods Reports 3Q2007 Results and 4Q2007 Update
Date:11/8/2007

Quarterly Revenue Increases 12%; Fully-Diluted EPS Increases to $0.89 per

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DENVER, Nov. 8 /PRNewswire-FirstCall/ -- Air Methods Corporation (Nasdaq: AIRM) reported results for the quarter ended September 30, 2007. Revenue increased 12% to $101.5 million from $90.5 million in the year-ago quarter. For the nine-month period, revenue increased 13% to $273.7 million, up from $242.0 million in the prior-year nine-month period.

For the quarter, net income increased 17% to $11.2 million, or $0.89 per diluted share, as compared with prior-year quarter net income of $9.6 million, or $0.78 per diluted share. Net income for the nine-month period was $22.7 million, or $1.82 per diluted share, compared to $16.0 million, or $1.30 per diluted share for the prior-year nine-month period. The current-year quarter includes a $1.2 million pre-tax net gain on disposition of assets, offset by a $0.8 million loss on early extinguishment of debt. Net of income taxes, the gain on disposition less the loss on early extinguishment of debt increased net income by approximately $0.3 million or $0.02 per diluted share. The prior-year quarter included a $1.4 million gain from a litigation settlement. Net of income taxes, the litigation settlement gain increased prior-year quarter net income by approximately $0.8 million or $0.07 per diluted share.

The third quarter 2007 financial results do not reflect any operations of FSS Airholdings, Inc., the parent company of CJ Systems Aviation Group, Inc. (CJ), since the acquisition was not completed until October 1, 2007.

Third Quarter Highlights

Community-Based Services: Revenue from community-based services increased 12% to $69.3 millio
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SOURCE Air Methods Corporation
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