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May 8, 2007 8:30 AM, EDT

Atlas Air Turns 1Q Profit

Air cargo company Atlas Air Worldwide Holdings said it earned $6.2 million or 29 cents a share in the first quarter, turning around a loss of $3.7 million or 18 cents a year ago.

Revenue rose to $353.6 million from $332.2 million.

Operating income as a percentage of total revenue rose to 4.9% in the first quarter of 2007 from 2.1% in the first quarter of 2006, the company said Monday.

Chief Executive Officer William Flynn said the company expects strong demand from the U.S. military to continue through the first half of the year, while improved activity in the South American and trans-Atlantic regions should offset some weakening in the Asian export market.