JetBlue Posts a Loss Again--but we are still #1, I swear...really we are!
04-24-2007 | 06:32 AM
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JetBlue Posts a Loss Again--but we are still #1, I swear...really we are!
GMAN-
Here ya go bud, thought you may like this "ranking".
NEW YORK (AP) -- JetBlue Airways' said Tuesday that first-quarter losses had narrowed, but the discount carrier lowered expectations for 2007.
JetBlue lost $22 million, or 12 cents per share in the quarter, compared with a loss of $32 million, or 18 cents per share, in the first quarter of 2006.
Operating revenues jumped 24 percent to $608 million, compared with $490 million in the year-ago quarter.
The earnings results bested the revised expectations of analysts polled by Thomson Financial, who had forecast losses of 19 cents per share. The company, however, lowered its guidance in February.
"I'm always suspect when they beat their own guidance," said Susan Donofrio, analyst with Cathay Financial. "It was a difficult quarter."
Forest Hills, NY-based JetBlue was roundly criticized earlier this year when it was forced to cancel more than 1,000 flights, stranding travelers in Northeast airports during the Valentine's Day snowstorm.
Trying to control the damage in the storm's aftermath, JetBlue drafted a "customer bill of rights," under which the company issued vouchers to certain customers who experienced delays.
"We are disappointed with our first quarter results, which were significantly impacted by two ice storms in the Northeast area," said David Neeleman, chairman and chief executive. "We learned a great deal following the events and consequently, we're better able to recover from irregular operations and provide the superior service our customers deserve and have grown to appreciate."
JetBlue said its pre-tax profit margin for 2007 will be between one and three percent. That translates to an "implied" earnings range of 10 to 28 cents per share, Donofrio said.
Analysts surveyed by Thomson are expecting 35 cents per share.
"They're guiding their guidance down," Donofrio said. Shares of JetBlue fell 9 cents to 10.90 Tuesday in early trading on the Nasdaq Stock Market.
Here ya go bud, thought you may like this "ranking".
NEW YORK (AP) -- JetBlue Airways' said Tuesday that first-quarter losses had narrowed, but the discount carrier lowered expectations for 2007.
JetBlue lost $22 million, or 12 cents per share in the quarter, compared with a loss of $32 million, or 18 cents per share, in the first quarter of 2006.
Operating revenues jumped 24 percent to $608 million, compared with $490 million in the year-ago quarter.
The earnings results bested the revised expectations of analysts polled by Thomson Financial, who had forecast losses of 19 cents per share. The company, however, lowered its guidance in February.
"I'm always suspect when they beat their own guidance," said Susan Donofrio, analyst with Cathay Financial. "It was a difficult quarter."
Forest Hills, NY-based JetBlue was roundly criticized earlier this year when it was forced to cancel more than 1,000 flights, stranding travelers in Northeast airports during the Valentine's Day snowstorm.
Trying to control the damage in the storm's aftermath, JetBlue drafted a "customer bill of rights," under which the company issued vouchers to certain customers who experienced delays.
"We are disappointed with our first quarter results, which were significantly impacted by two ice storms in the Northeast area," said David Neeleman, chairman and chief executive. "We learned a great deal following the events and consequently, we're better able to recover from irregular operations and provide the superior service our customers deserve and have grown to appreciate."
JetBlue said its pre-tax profit margin for 2007 will be between one and three percent. That translates to an "implied" earnings range of 10 to 28 cents per share, Donofrio said.
Analysts surveyed by Thomson are expecting 35 cents per share.
"They're guiding their guidance down," Donofrio said. Shares of JetBlue fell 9 cents to 10.90 Tuesday in early trading on the Nasdaq Stock Market.
Last edited by Metal121; 04-24-2007 at 06:49 AM.
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