-
EAGLE USA AIRFREIGHT, INC.
- 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.
- All amounts reflect a two-for-one stock split effected in the form of a stock dividend paid on August 1, 1996.
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 |
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Return to November 4, 1997 Press Release
EAGLE USA AIRFREIGHT
Sherry Amberg
Intercontinental Airport
Voice: (281) 821-4456
© 1997 Eagle USA
samberg@eagleusa.com
3214 Lodestar
Houston, Tx 77032
Fax: (281) 821-1953
info@eagleusa.com
www.eagleusa.com