PROVO — Cargo carrier Alpine Air Express Inc. said Monday that its operating subsidiary, Alpine Aviation Inc., has reported a net loss of 4 cents per share and operating revenue of $7.7 million for the nine months ended July 31.
The company had a nearly 6 cents per share loss from its international operation with Alpine Air Chile SA. The pretax net profit was $312,294, or 3.5 cents per share, excluding the Chilean operations.
Alpine said company officials will "look closely" during the next year at its interest in Alpine Air Chile SA "to ascertain the long-term benefit to Alpine Air Express, its parent company and its shareholders."
Alpine's current assets, property and equipment, net and aircraft deposits more than doubled from $10.6 million on Oct. 31, 2002, to $21.3 million on July 31, it said.
Alpine stock fell 10 cents, or 6 percent, to close Monday at $1.55 per share.