Late on Tuesday, Air Methods Corp. (NASDAQ: AIRM) announced that its fourth-quarter net income fell to $3.74 million or 30 cents a share, from $4.82 million or 38 cents a share, in the prior year quarter. Revenue dropped 3% to $118.91 million from $122.61 million. Consensus estimates were for earnings of 27 cents a share on revenue of $120.48 million for the quarter. CEO Aaron Todd stated "We are pleased with our fourth quarter results considering the recent softness in demand for service caused by the current economic environment. Fuel prices and maintenance expenditures showed moderation during the last quarter of 2008 and have continued to improve significantly during the first month of 2009. Our reimbursement continues to reflect benefits from previous price increases, while our flight volume through February is in line with our beginning-of-the-year expectations." Shares of the company rose 2.49% in after hours trade.

Boston Beer Co. Inc. (NYSE: SAM) reported that its fourth quarter profit declined 47% to $3.59 million or 25 cents a share, from $6.76 million, or 46 cents a share, in the fourth quarter of 2007. Revenues grew 13% to $103.78 million from $92.19 million. Looking ahead to the fiscal year 2009, the company expects to earn n the range of $1.40 a share and $1.70 a share. Wall Street currently expects earnings of $1.63 per share for the year. President and CEO Martin Roper commented "During the fourth quarter of 2008 we experienced some slowing of trends in our brands, as did the imports and the overall craft category. As we enter 2009, this has continued, and we also have seen signs of inventory reductions at both retail and wholesale levels which could depress shipments and depletion levels. We believe these effects are generally reflective and consistent with recent economic developments and while there is considerable uncertainty about short term trends, we remain confident about the long term prospect for our category and brands.

Hovnanian Enterprises Inc. (NYSE: HOV) posted a wider fiscal first-quarter loss of $178.4 million, or $2.29 a share, compared to a loss of $168.8 million, or $2.07 a share, in the previous year quarter. Revenue decreased to $373.8 million from $1.09 billion. Analysts on average were looking for a quarterly loss of $1.74 a share on revenue of $405.7 million. President and CEO Ira Hovnanian said "The sales environment remained persistently challenging throughout the first quarter. While we have experienced a typical, seasonal pickup in traffic and sales since the middle of January, this increase is coming off of extremely low levels that have prevailed since mid-September... Much to our disappointment, there were no significant provisions designed to stimulate housing demand in the stimulus bill signed into law last month or the subsequent plan to stem foreclosures.