Server: Microsoft-IIS/3.0 Date: Thu, 20 Nov 1997 16:00:45 GMT Content-Type: text/html Accept-Ranges: bytes Last-Modified: Tue, 04 Nov 1997 23:01:04 GMT Content-Length: 11896 Eagle USA Company News - Press Releases (November 4, 1997)
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    EAGLE USA AIRFREIGHT, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (in thousands, except per share amounts) (unaudited)

    Three Months
    Ended September 30,
    Year
    Ended September 30,
    1997 1996 1997 1996
    Revenues $91,392 $57,456 $291,768 $185,445
    Cost of transportation 50,758 31,910 163,616 103,312
    40,634 25,546 128,152 82,133
    Personnel costs 21,729 12,689 67,813 41,619
    Other selling, general and admin. costs 10,781 7,112 34,640 22,665
    Operating income 8,124 5,745 25,699 17,849
    Interest and other income 345 317 1,693 1,079
    Interest expense (145)
    Income before provision for income taxes 8,469 6,062 27,392 18,783
    Provision for income taxes (a) 3,237 2,344 10,594 7,302
    Net income $5,232 $3,718 $16,798 $11,481
    Net income per share (b) $0.28 $0.20 $0.90 $0.66
    Weighted average common and common
    equivalent shares outstanding (b)
    18,886 18,312 18,682 17,521

    1. Eagle USA Airfreight, Inc. was an S Corporation for federal income tax purposes prior to the closing of the initial public offering on December 6, 1995. The provision for income taxes for the year ended September 30, 1996 includes a pro forma charge of $945 which represents the estimated federal taxes that would have been reported had Eagle USA been a C Corporation prior to December 6, 1995.

    2. All amounts reflect a two-for-one stock split effected in the form of a stock dividend paid on August 1, 1996.

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 EAGLE USA AIRFREIGHT

Sherry Amberg
samberg@eagleusa.com

Intercontinental Airport
3214 Lodestar
Houston, Tx 77032

Voice: (281) 821-4456
Fax: (281) 821-1953
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© 1997 Eagle USA