August 8, 2007 9:45 AM, EDT

Atlas Air’s Second-Quarter Earnings Rise

Air cargo company Atlas Air Worldwide Holdings said Wednesday it earned $43.2 million or $2.01 a share in the second quarter, up from $10.7 million or 51 cents a year ago.

Revenue rose to $370.4 million from $366.4 million.

Operating income as a percentage of total revenue rose to 8.4% in the second quarter of 2007 from 8.3% in the second quarter of 2006, the company said Wednesday.

In late June, the company closed a deal with DHL Express under which the parcel carrier agreed to pay $150 million for a 49% stake in Atlas Air’s Polar Air Cargo Express unit. Atlas Air said it received $75 million from the sale during the quarter and expects to receive the balance in 2008.