Atlas Air Worldwide Reports 2011 Earnings
On a reported basis, fourth-quarter net income attributable to common stockholders totaled $33.5 million, or $1.27 per diluted share. Full-year reported net income attributable to common stockholders totaled $96.1 million, or $3.64 per diluted share.
“2011 was a year of expanding our business platform and investing for the future,” said President and Chief Executive Officer William J. Flynn.
“We performed well by historical standards, but global economic conditions, delivery delays for our new 747-8 freighters, delays in the ramp-up of CMI service for Boeing, and the impact of pre-operating costs for new initiatives all contributed to lower-than-anticipated earnings.
“We made significant progress on several strategic business initiatives during 2011 that we expect will drive earnings-per-share growth of approximately 24% in 2012 compared with our adjusted 2011 EPS and contribute to significant earnings momentum in the years beyond.
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