boxjockey
Well-known member
- Joined
- Aug 10, 2003
- Posts
- 446
ExpressJet Holdings Reports First Quarter Earnings of $28.7 Million
HOUSTON, April 15 /PRNewswire-FirstCall/ -- ExpressJet Holdings, Inc. (NYSE: XJT) today reported first quarter net income applicable to common stockholders of $28.7 million, or $0.53 diluted earnings per share -- an increase of 33 percent over the first quarter of 2003.
The results represent ExpressJet's twelfth consecutive quarter of improved earnings, due in part to the company's successful efforts to reduce year-over- year unit costs. "ExpressJet's performance demonstrates the commitment of the company's employees to operational excellence and efficiency, both critical to our success as we deliver the highest quality of service, expand our regional jet fleet and improve our competitive position," said ExpressJet President and CEO Jim Ream.
First Quarter Operating Results
First quarter operating revenue increased 19 percent to $364.0 million, from $306.6 million in the first quarter of 2003. Compared with the same period last year, capacity grew 36 percent to 2.4 billion available seat miles with block hours increasing 31 percent to approximately 169,000 block hours. Revenue passenger miles were up 43 percent, resulting in a 3.3 point year- over-year increase in load factor to 64 percent. The company also achieved a 99.8 percent controllable completion factor during the first quarter of 2004, which excludes cancellations due to weather and air traffic control. ExpressJet's overall completion rate for the quarter was 98.6 percent.
During the quarter, ExpressJet accepted delivery of five Embraer ERJ-145XR aircraft, bringing its total fleet to 229.
The company announced that it will add service to Tallahassee, Fla. from Houston's George Bush Intercontinental Airport in May, along with new service linking Newark Liberty International Airport with St. John's, Newfoundland and Little Rock, Ark., beginning in June. Service from Cleveland's Hopkins International Airport to Myrtle Beach, S.C., Birmingham, Ala. and Houston's Hobby Airport will begin in June, July and September, respectively. From Houston's George Bush Intercontinental Airport, the company began serving the Mexican city of Monclova in March and will add service to the Mexican cities of Puebla, Oaxaca and Toluca later this spring.
Now if we can just get Jim to give up some of that cash....
box
HOUSTON, April 15 /PRNewswire-FirstCall/ -- ExpressJet Holdings, Inc. (NYSE: XJT) today reported first quarter net income applicable to common stockholders of $28.7 million, or $0.53 diluted earnings per share -- an increase of 33 percent over the first quarter of 2003.
The results represent ExpressJet's twelfth consecutive quarter of improved earnings, due in part to the company's successful efforts to reduce year-over- year unit costs. "ExpressJet's performance demonstrates the commitment of the company's employees to operational excellence and efficiency, both critical to our success as we deliver the highest quality of service, expand our regional jet fleet and improve our competitive position," said ExpressJet President and CEO Jim Ream.
First Quarter Operating Results
First quarter operating revenue increased 19 percent to $364.0 million, from $306.6 million in the first quarter of 2003. Compared with the same period last year, capacity grew 36 percent to 2.4 billion available seat miles with block hours increasing 31 percent to approximately 169,000 block hours. Revenue passenger miles were up 43 percent, resulting in a 3.3 point year- over-year increase in load factor to 64 percent. The company also achieved a 99.8 percent controllable completion factor during the first quarter of 2004, which excludes cancellations due to weather and air traffic control. ExpressJet's overall completion rate for the quarter was 98.6 percent.
During the quarter, ExpressJet accepted delivery of five Embraer ERJ-145XR aircraft, bringing its total fleet to 229.
The company announced that it will add service to Tallahassee, Fla. from Houston's George Bush Intercontinental Airport in May, along with new service linking Newark Liberty International Airport with St. John's, Newfoundland and Little Rock, Ark., beginning in June. Service from Cleveland's Hopkins International Airport to Myrtle Beach, S.C., Birmingham, Ala. and Houston's Hobby Airport will begin in June, July and September, respectively. From Houston's George Bush Intercontinental Airport, the company began serving the Mexican city of Monclova in March and will add service to the Mexican cities of Puebla, Oaxaca and Toluca later this spring.
Now if we can just get Jim to give up some of that cash....
box
