ABX Holdings, parent of US cargo carriers ABX Air, Air Transport International and Capital Cargo International Airlines, reported a 78.2% drop in net income for 2007 to $19.6 million compared to $90.1 million the previous year. The company downplayed the earnings decrease, attributing it in large part to "the effect of noncash tax items," and noting that its acquisition of ATI and CCIA parent Cargo Holdings International at year end would pay dividends in the future. ABX enjoyed a noncash ...

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