Skywest Inc quarterly earnings call

[johnpeace]

I wasn't able to listen, anyone got a recap?

 

[Jetjockey]

Jerry gets even richer off the backs of low wage workers. Now go pick up a trip.

 

[damnflyboy]

All I could hear out of the call was cost reductions coming on the ASA side. A caller asked about specifics, but BR didn't feel comfortable elaborating.

 

[COOPERVANE]

First time SKW has had a loss in 90 quarters. 23 years. 11 million loss was less than the 13 million forecast loss

Loss mostly due to reduction of DCI rates (7 million) and the reduction of block hours. Lots of heavy checks costs at ASA. These will affect SKW for the rest of the year.

Air Mekong had a 2 million loss.

Repurchased 17 million of SKW stock (source of the most loss?)


The rebroadcast will be available until through May 19, 2011 till 9:00 a.m. EST. call 1-877-344-7529 enter code 450200

 

[WWEfan]

Cost cutting initiatives coming to ASA. What a coincidence considering the pilots are in negotiations.

 

[homerjdispatch]

SkyWest made money, ASA and Expressjet lost money.

 

[COOPERVANE]

So if a company repurchases 17 million of its own stock, and shows an 11 million loss, is there REALLY a loss? Or is that smoke and mirrors?

 

[crj567]

So if a company repurchases 17 million of its own stock, and shows an 11 million loss, is there REALLY a loss? Or is that smoke and mirrors?

BINGO!

-At least someone here is smart enough to understand this crap.

Jerry spends @$20 million or so on a completely arbitrary stock buyback, and yet we "lost" money. The bad part is that our union and pilots will all be fooled by this B.S., and we will choke down a pay cut.

This is the best money Jerry ever spent! (You may notice that the stock price hasn't really dropped, all the real institutional investors know exactly what is going on-Jerry is just browbeating some dumbass pilots again.)

 

[SiuDude]

You idiots, stock repurchase is a no-net-gain transaction. They're trading shares for cash (sorry, I mean CA$H-MONEY) and it doesn't get reported as operating income or loss. In addition, stock repurchase increases the value of the outstanding shares.

 

[COOPERVANE]

How would I know that. I just read your one book.