Cargo carrier Atlas Air Worldwide Holdings Inc posted a higher quarterly profit, aided by growth in military passenger service and higher commercial charter flying.

Atlas Air said earnings for the current third quarter would be "moderately higher" than the second quarter, and fourth quarter profit would be "substantially higher" than the third period, aided by shipments of high-tech products.

The company, which provides charter freight services to commercial airlines and the U.S. military, said second quarter net income was $30.9 million, or $1.16 a diluted share, up 29 percent from $23.8 million, or 90 cents a share, a year earlier.

Quarterly revenue rose 21 percent to $424.7 million.

The company stood by a prior forecast calling for full-year earnings to top $5.10 a share. (Reuters)