Alaska reports quarterly profit; thanks pilots
07-21-2005, 08:18 AM
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Alaska reports quarterly profit; thanks pilots
OK, so I made up the last part 
Alaska Air reports $17.4 million profit
ASSOCIATED PRESS
Last updated: July 21st, 2005 08:48 AM (PDT)
SEATTLE -- Alaska Air Group Inc., the parent company of Alaska Airlines and Horizon Air, reported a profit Thursday, due to a rise in passenger traffic and ticket prices.
For the three months ended June 30, the company posted net earnings of $17.4 million, or 56 cents a share, up from a net loss of $1.7 million or 6 cents a share for the same period a year ago.
The airline’s second-quarter earnings included a $14.7 million restructuring charge for severance pay and other costs stemming mostly from the outsourcing of baggage handling and other ramp work at Seattle-Tacoma International Airport to a subcontractor. Without that charge and other one-time items, the company said its earnings would have been $24.7 million or 74 cents a share.
On average, analysts surveyed by Thomson Financial were looking for earnings of 68 cents a share. Estimates varied widely, from 40 cents a share to 92 cents a share.
Alaska Air shares fell 55 cents, or 1.6 percent, to $33.67 Thursday in early trading on the New York Stock Exchange. The stock has traded in a 52-week range of $18.74 to $34.47.
Alaska Air reports $17.4 million profit
ASSOCIATED PRESS
Last updated: July 21st, 2005 08:48 AM (PDT)
SEATTLE -- Alaska Air Group Inc., the parent company of Alaska Airlines and Horizon Air, reported a profit Thursday, due to a rise in passenger traffic and ticket prices.
For the three months ended June 30, the company posted net earnings of $17.4 million, or 56 cents a share, up from a net loss of $1.7 million or 6 cents a share for the same period a year ago.
The airline’s second-quarter earnings included a $14.7 million restructuring charge for severance pay and other costs stemming mostly from the outsourcing of baggage handling and other ramp work at Seattle-Tacoma International Airport to a subcontractor. Without that charge and other one-time items, the company said its earnings would have been $24.7 million or 74 cents a share.
On average, analysts surveyed by Thomson Financial were looking for earnings of 68 cents a share. Estimates varied widely, from 40 cents a share to 92 cents a share.
Alaska Air shares fell 55 cents, or 1.6 percent, to $33.67 Thursday in early trading on the New York Stock Exchange. The stock has traded in a 52-week range of $18.74 to $34.47.
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