Alabama Aircraft 3Q Loss Widens

For the three months ended Sept 30, AAI, formerly known as Pemco Aviation Group, posted a loss of $1.6 million, or 39 cents per share, compared to a loss of $547,000, or 13 cents per share, in the prior-year period.

Quarterly revenue fell to $14.9 million, down 31.1 percent from $21.7 million.

Revenue fell because of reduced deliveries under the Pentagon's KC-135 program, but the company also "reduced corporate expenses during the third quarter of 2007 as a result of the reduction in the size of the company," Chief Executive Ronald Aramini said, a reference to the divestiture of AAI's Pemco World Air Services.

Shares of AAI remained flat at $4.10 in afternoon trading.