Atlas Air Worldwide Holdings (AAWW) swung to a net loss for the quarter ended Mar. 31, 2017. The company has made a net loss of $0.75 million, or $ 0.03 a share in the quarter, against a net profit of $0.47 million, or $0.02 a share in the last year period.

Revenue during the quarter grew 13.56 percent to $475.39 million from $418.62 million in the previous year period. Gross margin for the quarter contracted 267 basis points over the previous year period to 59.76 percent. Total expenses were 94.94 percent of quarterly revenues, down from 95.21 percent for the same period last year. This has led to an improvement of 26 basis points in operating margin to 5.06 percent.

Operating income for the quarter was $24.04 million, compared with $20.06 million in the previous year period.

However, the adjusted operating income for the quarter stood at $26.01 million compared to $28.37 million in the prior year period. At the same time, adjusted operating margin contracted 130 basis points in the quarter to 5.47 percent from 6.78 percent in the last year period.

"We are off to an exciting start in 2017," said president and chief executive officer William J. Flynn. "We are building on our 2016 achievements and growing our earnings this year.

The company has spent $139.80 million cash to meet investing activities during the quarter as against cash outgo of $89.96 million in the last year period.

Cash flow from financing activities was $101.83 million for the quarter as against cash outgo of $36.50 million in the last year period.

Cash and cash equivalents stood at stood at $109.10 million as at Mar. 31, 2017.