HOUSTON, April 21 /PRNewswire/ -- Eagle USA Airfreight, Inc.
(Nasdaq-NNM: EUSA) announced revenue and earnings for the second quarter ended
March 31, 1997.
    Eagle USA Airfreight, Inc. today reported second quarter fiscal 1997
revenues of $61.5 million or a 57% increase over second quarter fiscal 1996.
Earnings per share for the second quarter fiscal 1997 were $0.16, a 45%
increase over second quarter 1996.  Net income for the second quarter of
fiscal 1997 increased 40% to $2.9 million compared to $2.1 million for the
corresponding period in fiscal 1996.
    Revenues for the six months ended March 31, 1997 increased 62% to
$129.1 million compared with $79.7 million for the corresponding period in
fiscal 1996.  Earnings per share for the six months ended March 31, 1997 were
$0.40, a 48% increase over the six months ended March 31, 1996 even with the
6% increase in average shares outstanding as a result of the initial public
offering during fiscal 1996.  Net income for the six months ended March 31,
1997 increased 61% to $7.5 million compared to $4.6 million for the
corresponding period in fiscal 1996.
    James R. Crane, Chairman and Chief Executive Officer, said, "Considering
the fact that this quarter is traditionally our slowest, we had outstanding
revenue and earnings growth over previous fiscal year comparisons.  Our
business continues to be strong."

                          Eagle USA Airfreight, Inc.
                       Consolidated Statement of Income
                   (in thousands, except per share amounts)
                                 (Unaudited)

                               Three months ended      Six months ended
                                    March 31,              March 31,
                                1997       1996        1997       1996

    Revenues                  $ 61,489   $ 39,051    $129,075   $ 79,749
    Cost of Transportation      34,806     21,257      72,877     44,386
     Total                      26,683     17,794      56,198     35,363

    Operating Expenses
     Personnel Costs            14,885      9,538      29,173     18,165
     Other Selling, General
      & Admin. Costs             7,773      4,926      15,802      9,609
    Total Operating Expenses    22,658     14,464      44,975     27,774

    Operating Income             4,025      3,330      11,223      7,589
     Other Income (Expense), Net   701        295         974        327
     Income before Income Taxes  4,726      3,625      12,197      7,916
     Provision for Income
      Taxes (a)                  1,778      1,519       4,735      3,267
     Net Income               $  2,948   $  2,106    $  7,462   $  4,649

    Weighted Avg. Common
     Shares Outstanding (b)     18,643     18,692      18,554     17,512
    Earnings Per Share (b)    $   0.16   $   0.11    $   0.40   $   0.27


    (a)  Eagle USA Airfreight was an S Corporation for federal tax
         purposes prior to the closing of the initial public offering on
         December 6, 1995.  The provision for income taxes for the six months
         ended March 31, 1996 includes a pro forma charge of $945 which
         represents the estimated federal taxes that would have been reported
         had Eagle USA been a C Corporation prior to December 6, 1995.

    (b)  On July 8, 1996, the Board of Directors authorized a two-for-one
         stock split, effected in the form of a stock dividend, payable
         August 1, 1996 to shareholders of record on July 24, 1996.  All
         references to number of shares outstanding and related per share
         amounts have been restated to reflect the stock split.  The stock
         split resulted in the issuance of 8,673 new shares of common stock.

    Eagle USA is a leading provider of airfreight forwarding and other
transportation and logistics services.  Eagle USA's Internet address is
http://www.eagleusa.com.

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