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.