Atlas Air reports increase in income

But earnings per share were lowered

Atlas Air Worldwide business model double-digit earnings earnings-per-share forecast growth story William J. Flynn

Atlas Air Worldwide posted double-digit earnings growth for the third quarter of 2012. For the three months ended September 30, 2012, net income increased 20 per cent to $33.9 million compared with $28.2 million for the three months ended September 30, 2011. Commenting about the results, William J. Flynn, president and chief executive said that the third-quarter results highlighted the transformation and diversification of the business model and “the essential elements of our growth story”. These increases apart, the company lowered its 2012 earnings-per-share forecast from more than $5.10 a share to $4.65 a share.