AEI BLAMES DROP IN EARNINGS ON SOFT AIR-CARGO MARKET
AEI reported a net income of $8.7 million in the first quarter ending
March 31, compared to $9.7 million in earnings for the same period last
year.
The Darien, Conn.-based forwarder and customs broker said the drop in
earnings was mostly the result of "significant softness" in its air-cargo
business early in the quarter.
Revenues for the first quarter were also down by 5 percent to $354.7
million.