DENVER (AP) -- Air medical transportation company Air Methods Corp. shares sank in after-hours trading Thursday after the company said it expects a loss for its fiscal first quarter.
Air Methods expects a loss of 14 to 16 cents per share for the first quarter, compared with profit of 32 cents per share in the prior-year quarter. Analysts polled by FactSet expected 34 cents per share for the recent quarter.
The Denver-based company said that its revenue fell because it transported fewer privately insured patients and experienced a number of cancellations because of weather.
Air Methods said a measure called "net revenue per community-based transport" for the first quarter should come in at $9,108, compared with $10,072 in the same quarter last year, a 10 percent drop.
Air Methods describes itself as the largest air medical transportation company in the world.
Shares sank by $8.40, or 18.3 percent, in after-hours trading to $37.50. The stock fell $1.78, or 3.7 percent, to close regular trading at $45.90.