World Air Holdings Continues Review of Third Quarter Results
14 11월 2005 - 11:10PM
PR Newswire (US)
Third Quarter Financial Reporting Delayed PEACHTREE CITY, Ga., Nov.
14 /PRNewswire-FirstCall/ -- World Air Holdings, Inc.
(NASDAQ:WLDAE), parent company of World Airways and North American
Airlines, announced today that it will require additional time to
complete the preparation of third quarter financial statements and
management's review of the third quarter results. This will result
in a delay in reporting third quarter World Air Holdings financial
results. Once management has completed its process, KPMG LLP, the
company's independent auditor, will work to complete its review of
the third quarter financial statements. The company will file its
Form 10-Q upon completion of these processes. "Like our recently
completed 2004 re-audit of North American, the key issues include
timing and classification of various expenses and the resolution of
other accounting matters," said Randy Martinez, World Air Holdings
chief executive officer. "We are still in the process of
implementing new financial processes and controls at North American
to ensure the accuracy of the financial statements, and we are
working diligently to complete this period's reporting. We remain
very confident about the financial health of North American
Airlines and the benefits of this acquisition." The company also
stated that it expects operating income to meet previous guidance
of $22 to $24 million for the quarter. World Air Holdings has three
wholly owned subsidiaries, World Airways, Inc., North American
Airlines, Inc., and World Risk Solutions, Ltd. World Airways is a
charter passenger and cargo airline founded in 1948, North American
is a charter passenger airline founded in 1989, and World Risk
Solutions is an insurance subsidiary established in 2004. ["Safe
Harbor" statement under the Private Securities Litigation Reform
Act of 1995: This release contains forward looking statements that
are subject to risks and uncertainties including, but not limited
to, the impact of competition in the market for air transportation
services, the cyclical nature of the air carrier business, reliance
on key marketing relationships, fluctuations in operating results
and other risks detailed from time to time in the company's
periodic reports filed with the SEC (reports are available from the
company upon request). These various risks and uncertainties may
cause the company's actual results to differ materially from those
expressed in any of the forward looking statements made by, or on
behalf of the company in this release.] DATASOURCE: World Air
Holdings, Inc. CONTACT: Media, Steve Forsyth of World Air Holdings,
Inc., +1-770-632-8322; or Investors, Karen Vahouny of Qorvis
Communications, +1-703-744-7809 Web site:
http://www.worldairways.com/
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