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River Hawk Announces Combined Operating Results for Its Acquisition Candidates

Posted on: Tuesday, 10 July 2007, 12:22 CDT

This morning River Hawk Aviation, Inc. (Pink Sheets:RHWA) released an informational update on the combined operating results of its proposed acquisition candidates, River Aviation, Inc. of San Antonio (RASA), Profile Aviation Center, Inc. and Profile Aviation Services, Inc. of Hickory, North Carolina (collectively Profile). The internally prepared statement (without audit) of the proposed combination indicates combined gross revenues of approximately $5.8 million for the six months ended June 30, 2007 and earnings before taxes, depreciation & amortization and debt service to be $1.4 million.

Calvin Humphrey, River Hawk CEO, speaking from North Carolina said, "I am pleased at the progress we are making towards completing our acquisitions of RASA and Profile. The operating results of these companies for the six months ended June 30, 2007 is a strong indicator of the value that they will bring to our organization upon completion of these acquisitions. We are into the high demand season for Profile's charter flights and fixed base operation services and for this reason I am anxious to close on Profile. I strongly believe that the busiest of times is the best time to accelerate the marketing efforts and I intend for a substantial effort to be put in motion as soon as this transaction is completed."

About River Hawk Aviation, Inc.

River Hawk Aviation, Inc., is an aviation parts and components supplier in the aviation industry, currently specializing in Saab and other commuter aircraft parts and components as well as a provider of consulting services, marketing and appraisals to the aviation community. At present, the Company maintains executive offices in Michigan and also has offices and inventory warehousing in San Antonio, Texas.

The Company's plan for future growth and development will focus on the acquisition of aviation-related operating businesses and airlines that display the potential for restructuring into profitable and sustainable aviation-related growth concerns.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ("the Exchange Act"), and as such, may involve risks and uncertainties. Forward-looking statements which are based upon certain assumptions and describe future plans, strategies and expectations, are generally identifiable by the use of words as "believe", "expect", "intend", "anticipate", "project", or other similar expressions. These forward-looking statements relate to, among other things, future performance, and perceived opportunities in the market and statements regarding the Company's mission and vision. The Company's actual results, performance and achievements may differ materially from the results, performance, and achievements expressed or implied in such forward-looking statements. Additional factors that could materially affect these forward-looking statements and/or predictions include, among other things: (1) managing acquisitions and expansion of operations; (2) our ability to obtain necessary financing and to manage existing debt; (3) the risks inherent in the investigation, involvement and acquisition of a new business opportunity; (4) the Company's ability to comply with federal, state and local government and international regulations; and (5) other factors over which we have little or no control. Further information on potential factors that could affect River Hawk Aviation, Inc. is found in the Company's Form 10-K and other documents filed with the U. S. Securities and Exchange Commission.

Source: Business Wire

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