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

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Wilmington-based (NASDAQ:ATSG) said Tuesday it lost $64.2w million, or $1.03 a share, in the quarte r ended Dec. 31, comparee with profit of $8.4 million, or 14 centa a share, a year earlier. The loss included a $91.1 million pretax write-down on goodwill and other thecompany said. Revenue in the quarter soaree 35 percentto $430.7 million from $319.2 much of that growth coming from Air Transport’se business, which it acquired in 2007. For the full Air Transport lost $56 or 90 cents a share, versuzs profit of $19.6 million, or 33 cents a share, in 2007. Revenure grew by a third to $1.6 billion from $1.
2 The company’s ABX Air subsidiary, whicnh has been hit with thousands of job lossea as principal customerended point-to-point domesticv shipping, was helped by an amended pricing agreement that effectively fixedx the company’s pretax earnings for the fourthn quarter of 2008 and first quarter of 2009. ABX earliet in the month also modifieda $93 millio n promissory note with DHL and came to an agreementr on other debt-related issues. While the compant said it is continuin business talkswith DHL, CEO Joe Hete said in a release that recent company acquisitions have “prepared us to withstand the loss of a substantiap portion of our busineszs with DHL.
” For ABX in Wilmington, that has meany the loss of about 4,800 jobs throug h February and a shift in operationd to a single overnight operation in the southwest Ohio city from what previously was a network of regional shipping