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MESA Loses 24 Million!!!!!

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CFI

Well-known member
Joined
Nov 25, 2001
Posts
60
PHOENIX, May 10 /PRNewswire-FirstCall/ -- Mesa Air Group, Inc. (Nasdaq: MESA) announced today a second quarter after tax loss of $24.0 million on gross operating revenues of $336.4 million. Total gross operating revenues for the second quarter of 2007 increased $24.4 million, or 7.8%, primarily as a result of the year-over-year increases in our regional jet fleet. Net income and earnings per share for the second quarter were a loss of $24.0 million and $0.54 per share on a diluted basis (all per share amounts reported hereafter are on a diluted basis), respectively, as compared to net income of $5.3 million and $0.14 per share for the same period of fiscal 2006. Pro forma net income for the quarter was $4.5 million, or $0.13 per share. Pro forma net income excluded after-tax non-cash losses on an equity investment of $2.2 million, net non-cash investment losses of $2.8 million and non-cash charges associated with the impairment of certain long-lived assets relating to our Delta and United code share agreements of $23.4 million. This compares to pro forma earnings of $12.9 million, or $0.30 per share for the comparable period of fiscal 2006.
 
uh... how come the article keeps saying "second quarter"? aren't these supposed to be first quarter results?
 
I think the mystery is being removed from the question "how did Mesa beat out Comair and SkyWest for Delta Connection Flying?"

It appears SkyWest was smart not to bid flying below their operational costs. However, how long SkyWest can hold out against ExpressJet and Mesa's willingness to bid at less than cost?
 
Fiscal year 2007 starts in september so everthing is always one qtr off. 1st Qtr 2007=Sept06-Dec06, 2 Qtr 2007=Jan07-Mar07, etc..
 
Fiscal year 2007 starts in september so everthing is always one qtr off. 1st Qtr 2007=Sept06-Dec06, 2 Qtr 2007=Jan07-Mar07, etc..

ah, thanks. guess that makes sense.

so how come other airlines say quarter one results for the jan-march period?? just so someone like me isn't too confused? :)
 
Mesa choses to start their fiscal year in sept other companies can chose to start their fiscal years at other times. Most companies seem to do it so the fiscal year matches with the calender year.
 

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