SKYW 2008 1st Quarter Earnings

[XPOO]

http://money.cnn.com/news/newsfeeds/articles/prnewswire/200805070700PR_NEWS_USPR_____LAW517.htm

 

[XPOO]

For those of you who hate to read long press releases, here are the Cliff Notes:

SkyWest reported net income of $29.1 million for the quarter ended March 31, 2008, a decrease of 16.2%, or $0.47 per diluted share compared to $34.8 million of net income or $0.53 per diluted share, for the same period last year.

SkyWest incurred higher than expected losses of approximately $6.2 million (pretax) on its pro-rate flying, compared to the same period last year, due primarily to significantly higher fuel costs, which have risen faster than SkyWest has been able to increase fares to offset these costs.

SkyWest also incurred various non-overhaul-related maintenance costs of approximately $10.2 million (pretax), consisting primarily of a higher volume of "C" checks on aircraft, the purchase of aircraft parts, including one-time costs to repair flap actuators on CRJ200 regional jet aircraft and damage to aircraft caused by third parties.

As a result of these combined items, SkyWest's pretax profit was reduced by a total of $11.4 million for the quarter ended March 31, 2008 compared to the quarter ended March 31, 2007.

 

[goahead]

The 25 million dollars their suing DAL for also left them a little short. Next quarter will be golden again.

 

[XPOO]

How many people believe that the $5M stock buy-back will be used to sweeten the XJT proposal?

 

[CheeseDick]

The 25 million dollars their suing DAL for also left them a little short. Next quarter will be golden again.

That money hasn't hit the books yet. In addition, DAL continues to hold ~900k per month.

If they had accounted for it, the earnings would look a lot worse.

 

[irija]

ExpressJet was actually upgraded today to buy and the "market" feels that a SkyWest buyout or another suitor coming in is in the cards.

http://www.marketwatch.com/news/story/expressjet-upgraded-airline-stocks-search/story.aspx?guid={09DA7F05-9F72-46E0-A49C-B28C9522DB29}&siteid=yhoof

 

[bmpilot2003]

The 25 million dollars their suing DAL for also left them a little short. Next quarter will be golden again.

Thats not what was said on the Conference call.

 

[Coloaviator]

Skywest can't complain, 29 million is right in the neighborhood of SWA which made 34 million. The guys in SGU know what they are doing!

 

[XPOO]

Nevermind.

 

[Metro752]

If you Kool-Aid drinking bafoons had a union, maybe you would enjoy better pay, than you have now?

Slaves. I bet they make you stir your own Kool-Aid mix.

 

[flyboyzz1]

Dude you need to get laid or something...find something better to do

 

[rtmcfi]

If you Kool-Aid drinking bafoons had a union, maybe you would enjoy better pay, than you have now?

Slaves. I bet they make you stir your own Kool-Aid mix.

It's buffoon....

 

[cfi_greg]

If you Kool-Aid drinking bafoons had a union, maybe you would enjoy better pay, than you have now?

Slaves. I bet they make you stir your own Kool-Aid mix.

Dude it's over already find something new to bitch about or go get laid.

 

[ToiletDuck]

If you Kool-Aid drinking bafoons had a union, maybe you would enjoy better pay, than you have now?

Slaves. I bet they make you stir your own Kool-Aid mix.

I don't work there I work at RAH but I'd take their stock purchase program any day.

 

[screech]

If you Kool-Aid drinking bafoons had a union, maybe you would enjoy better pay, than you have now?

Slaves. I bet they make you stir your own Kool-Aid mix.

Thats's Ok. My wife makes more than most regional Captains. We do fine on our $200K/year. At little less than half is my earnings at OO.

 

[No.W.]

Thats's Ok. My wife makes more than most regional Captains. We do fine on our $200K/year. At little less than half is my earnings at OO.

This seems to be the only way to have a stable income as an airline pilot these days.

 

[MoroniMetro]

Dude it's over already find something new to bitch about or go get laid.

It will never be over for you and your dirtbag cutt-throating co-workers. Skywest Inc. is starting to love their red-headed step child a little bit more. Must have something to do with Atlanta and the southeast being in the heart of Delta.

 

[10nCLR]

If you Kool-Aid drinking bafoons had a union, maybe you would enjoy better pay, than you have now?

Slaves. I bet they make you stir your own Kool-Aid mix.

Dude, you are as redundant as my Oh, Yeaah! BTW, it's better to mix your own Kool-Aid drink anyway.

 

[mrnolmts]

Skywest can't complain, 29 million is right in the neighborhood of SWA which made 34 million. The guys in SGU know what they are doing!

Really? It's all subsidized, for crying out loud! It's easy to make money when you have a guaranteed profit, my friend. Try going out on your own, and we'll see how well you fare.
What's mind-boggling to me, is that DAL and UAL are still willing to pay SKW as much as they do. Good thing you guys are cheap

 

[Positive Rate]

How many people believe that the $5M stock buy-back will be used to sweeten the XJT proposal?

I don't think that has anything to do with the deal...other than to maintain the stock control...to stay in control of the company and help the stock price....