Saker Aviation Services, Inc. (SKAS) operating income from continuing operations increased by 10.8 percent to USD1,918,696 on revenues of USD15,974,307, which were down 2.7 percent, as compared with USD1,740,845 in operating income and USD16,416,170 in revenue during the twelve months ended December 31, 2014, the company said.
Average fuel cost was lower in 2015, which led to lower average fuel prices. Combined with a 2.3 percent reduction in total fuel gallons, this translated to 12.2 percent lower fuel sales revenue. The fuel sales decline was offset by rising revenue associated with services and supply items, which increased by 4.8 percent as compared with the corresponding prior-year period.
The company also reported Adjusted EBITDA1 of USD2,645,921 for the twelve months ended December 31, 2015, an increase of USD221,981 or 9.1 percent as compared to Adjusted EBITDA of USD2,423,940 in the twelve months ended December 31, 2014.
Saker Aviation Services operates in the aviation services segment of the general aviation industry.