Cargo carrier Atlas Air Worldwide Holdings Inc said quarterly profit fell as demand in Asia softened and fuel expenses rose, and the company cut its full-year forecast, sending its shares down more than 6 percent.

"There is weakness that's obviously come into the (freight) market over the last quarter or so," said Jason Ursaner, an analyst with CJS Securities. He added that while the quarterly results disappointed, the fundamentals of Atlas Air were "still pretty positive."

The provider of charter freight services to commercial airlines and the U.S. military said net income was $28.2 million, or $1.07 a share, for the third quarter, down 17 percent from $33.8 million, or $1.29 a share, a year earlier.

Analysts had expected $1.35 a share, according to Thomson Reuters I/B/E/S.

Revenue rose 11 percent to $362.9 million, compared with $375.5 million expected by analysts.

Atlas Air said it now expects full-year profit in excess of $4.30 a share, compared with an August view of $5 a share. It cited expected lower contribution from commercial charter operations, delivery delays for Boeing Co 747-8 freighter planes, lower-than=expected flying tied to Boeing 787 program adjustments and start-up costs for new business opportunities. (Reuters)