Air Methods Completes Restatement of Financial Statements
Results of the Restatement in Line With Previously Disclosed Expectations
DENVER, Dec. 22, 2011 (GLOBE NEWSWIRE) -- Air Methods Corporation (Nasdaq:AIRM), the largest air medical transportation company in the world, announced today that it has completed the restatement of its financial statements for the year ended December 31, 2010 and for the first three quarters of 2011, and has filed amended annual and quarterly reports for the applicable periods with U.S. Securities and Exchange Commission (SEC). Specifically, the Company has filed a Form 10-K/A for the fiscal year ended December 31, 2010 and Forms 10-Q/A for the quarters ended March 31, June 30 and September 30, 2011. As previously disclosed, the Company restated its financial statements after receiving guidance from the SEC regarding the appropriate GAAP interpretation of ASC 840-10-25-14, which impacted the Company's presentation for aircraft leases. The effects of the financial restatement were within the ranges previously disclosed by the Company.
The Company is now current with its SEC filing requirements. The Company expects to regain compliance with the applicable NASDAQ listing rules promptly with these restated filings.
Air Methods Corporation (www.airmethods.com) is a leader in emergency aeromedical transportation and medical services. The Hospital Based Services Division is the largest provider of air medical transport services for hospitals. The Community Based Services Division is one of the largest community-based providers of air medical services. The Products Division specializes in the design and manufacture of aeromedical and aerospace technology. Air Methods' fleet of owned, leased or maintained aircraft features over 400 helicopters and fixed wing aircraft.
The Air Methods Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6955
Forward Looking Statements: Forward-looking statements in this news release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, include, without limitation, the timing for the Company to regain compliance with the Nasdaq listing rules. Actual results could differ materially from those currently anticipated due to a number of factors, including, but not limited to, the Company's ability to regain compliance with Nasdaq listing rules and other matters set forth in the Company's filings with the SEC. The Company is under no obligation (and expressly disclaims any obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
Please contact Christine Clarke at (303) 792-7579 to be included on Air Methods' fax and/or mailing list.
CONTACT: Aaron D. Todd, Chief Executive Officer (303) 792-7413
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