Air Methods Reports Record Revenues

 - August 7, 2012, 3:55 PM

Air Methods, the largest helicopter EMS provider in the U.S., posted an exceptionally strong second quarter. Revenue at the company increased to $222.5 million, a 48-percent jump from the same quarter last year.

In the first six months, Air Methods reported revenue of $413.3 million, up 47 percent versus the same period last year. Net income for the quarter increased 217 percent to $31.4 million, compared with the prior-year second-quarter net income of $9.9 million. For the first six months, net income increased by 181 percent to $43.9 million.

Over the past 12 months, Air Methods’ stock price has more than doubled, rising to more than $113 per share this morning, and its total market capitalization stood at $1.46 billion, $20 million more than that of JetBlue, the nation’s seventh largest airline.

The company benefited from increased flight volume, good weather, stable fuel costs and reduced maintenance expense, according to CEO Aaron Todd.