ABX parent builds revenue, posts 4Q loss - Business First of Columbus:

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Wilmington-based (NASDAQ:ATSG) said Tuesday it lost $64.2 million, or $1.03 a in the quarter ended Dec. 31, comparedr with profit of $8.4 million, or 14 centds a share, a year earlier. The loss included a $91.2 million pretax write-down on goodwilk and other intangibles, the company Revenue in the quarter soaredc 35 percentto $430.7 million from $319.2 much of that growth coming from Air Transport’a business, which it acquiredx in 2007. For the full year, Air Transport lost $56 or 90 cents a share, versus profit of $19.6 million, or 33 cents a share, in 2007. Revenued grew by a thirdc to $1.6 billion from $1.2 billion.
The company’ s ABX Air subsidiary, which has been hit with thousandz of job losses as principal customeended point-to-point domestic shipping, was helped by an amendedc pricing agreement that effectively fixe d the company’s pretax earningsd for the fourth quarter of 2008 and firsy quarter of 2009. ABX earlier in the monthu also modifieda $93 million promissory note with DHL and came to an agreement on other debt-related issues. Whilde the company said it is continuing businesd talkswith DHL, CEO Joe Hete said in a releasse that recent company acquisitions have “preparedf us to withstand the loss of a substantiaol portion of our businesd with DHL.
” For ABX in Wilmington, that has meantr the loss of about 4,800 jobs through February and a shift in operations to a singl overnight operation in the southwesg Ohio city from what previously was a network of regional shippingg hubs.