Skyw 2012 q1 earnings

[XPOO]

SKYW 2012 Q1 Earnings

Press release here.

Highlights:

• Recorded approximately $30.1 million in additional revenues related to increased block hour production, improved utilization and ground handling contracts
• Reduction of $4.6 million in prorate flying loss
• Recorded an additional $5.7 in United CRJ 200 engine overhaul costs
• Recorded an additional $3.8 million in employer benefit costs
• Recorded an additional $4.1 million of loss attributable to SkyWest's minority investments in Trip Linhas Aereas ("TRIP") and Mekong Aviation Joint Stock Company ("Air Mekong")

$0.7M loss this quarter, down from $11.1M loss the previous quarter

 

[777forever]

Getting better. TRIP and Air Mekong been killing them recently

 

[Baronman]

A 700K loss on close to a billion in revenue for the quarter isn't too shabby. I'm sure they could have adjusted the accounting to show a small net profit if they had wanted to.

 

[777forever]

A 700K loss on close to a billion in revenue for the quarter isn't too shabby. I'm sure they could have adjusted the accounting to show a small net profit if they had wanted to.

Negative unless you want to get in an Enron type situation.

Sent from my GT-I9100 using Tapatalk

 

[goahead]

Looks like we're on the "PATH TO PROSPERITY!!!!!"

 

[urflyingme?!]

I like how ALL of the losses are due to their crazy ass ideas. Better cut some pilot pay though.

 

[asayankee]

Yeah... Crazy ass ideas and prepaying engine costs and $50-60 million in hull prepayments. They'd have a pretty nice profit/higher cash on hand if they didn't pay stuff ahead of time every quarter. Might be a fairly smart business move but I wonder how the stockholders feel about share price that has gone from $24 a few years ago to about $8 now?

 

[skyman50]

Yeah... Crazy ass ideas and prepaying engine costs and $50-60 million in hull prepayments. They'd have a pretty nice profit/higher cash on hand if they didn't pay stuff ahead of time every quarter. Might be a fairly smart business move but I wonder how the stockholders feel about share price that has gone from $24 a few years ago to about $8 now?

They love it!!! That's why they have been buying back their stocks

 

[Skywest Pylot]

Press release here.

Highlights:

• Recorded approximately $30.1 million in additional revenues related to increased block hour production, improved utilization and ground handling contracts
• Reduction of $4.6 million in prorate flying loss
• Recorded an additional $5.7 in United CRJ 200 engine overhaul costs
• Recorded an additional $3.8 million in employer benefit costs
• Recorded an additional $4.1 million of loss attributable to SkyWest's minority investments in Trip Linhas Aereas ("TRIP") and Mekong Aviation Joint Stock Company ("Air Mekong")

$0.7M loss this quarter, down from $11.1M loss the previous quarter

If you want to see where SkyWest is headed, look no further than Mesa. J.O. and Chip (and Jerry, the puppet master) have a very similar M.O. Any innovation and forward thinking went away with Ron Rebber. They could eliminate some large overhead costs by merging the 3 companies (SkyWest, Expressjet, ASA) but management is too stubborn about the union thing. They will reap what they sew.

 

[NWaviator]

A 700K loss on close to a billion in revenue for the quarter isn't too shabby. I'm sure they could have adjusted the accounting to show a small net profit if they had wanted to.

I agree, if they wanted to show a profit they can. They can pay down less debt for the quarter and other stuff. In the whole SKW business they could trim something to show a profit. They are after you guys to think this are dire and a pay cut or freeze is in order to survive.
Isn't $700,000 about 27 CA pay and 28 FO pay for you guys?