TNHillbilly
King of the South
- Joined
- Mar 27, 2006
- Posts
- 191
Is this a misprint? Why haven't we heard about it? I thought they were using Jets for this. Is this whipsaw or what?
Pinnacle's Q2 earnings slashed
Memphis Business Journal - 4:05 PM CDT Tuesday, August 7, 2007
Pinnacle Airlines Corp. reported Tuesday net income of $7.6 million for the second quarter, down 35 percent from $11.9 million in the second quarter of 2006.
The company said net income was reduced primarily by a non-operating loss of $4.1 million on the sale of Pinnacle's remaining bankruptcy claim against Northwest Airlines (NYSE: NWA).
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Operating revenues at Pinnacle (NASDAQ: PNCL) decreased by nearly 2 percent, from $204.5 million in the second quarter of 2006 to $200.1 million in the second quarter of 2007.
Pinnacle said operating revenues decreased following the amendment of its Airline Service Agreement with NWA, which was seeking to reduce costs in December 2006.
Pinnacles' diluted earnings per share decreased from 54 cents in the second quarter of last year to 32 cents this quarter.
Shares of Pinnacle closed at $15.84 on Tuesday, down 1 percent.
Based in Memphis, Pinnacle Airlines Corp. owns Pinnacle Airlines Inc., which flies as Northwest Airlink for Northwest Airlines Corp., and Colgan Air Inc., which operates regional flights for Continental Airlines (NYSE: CAL), United Airlines (NYSE: UAL) and US Airways. Colgan will start flying for Delta Air Lines (NYSE: DAL) in December.
Pinnacle Airlines Corp. employs about 6,000 people.
Pinnacle's Q2 earnings slashed
Memphis Business Journal - 4:05 PM CDT Tuesday, August 7, 2007
Pinnacle Airlines Corp. reported Tuesday net income of $7.6 million for the second quarter, down 35 percent from $11.9 million in the second quarter of 2006.
The company said net income was reduced primarily by a non-operating loss of $4.1 million on the sale of Pinnacle's remaining bankruptcy claim against Northwest Airlines (NYSE: NWA).
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Operating revenues at Pinnacle (NASDAQ: PNCL) decreased by nearly 2 percent, from $204.5 million in the second quarter of 2006 to $200.1 million in the second quarter of 2007.
Pinnacle said operating revenues decreased following the amendment of its Airline Service Agreement with NWA, which was seeking to reduce costs in December 2006.
Pinnacles' diluted earnings per share decreased from 54 cents in the second quarter of last year to 32 cents this quarter.
Shares of Pinnacle closed at $15.84 on Tuesday, down 1 percent.
Based in Memphis, Pinnacle Airlines Corp. owns Pinnacle Airlines Inc., which flies as Northwest Airlink for Northwest Airlines Corp., and Colgan Air Inc., which operates regional flights for Continental Airlines (NYSE: CAL), United Airlines (NYSE: UAL) and US Airways. Colgan will start flying for Delta Air Lines (NYSE: DAL) in December.
Pinnacle Airlines Corp. employs about 6,000 people.