SWA/FO
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Southwest Airlines has added a news release to its Investor Relations website.
Title: Southwest Airlines Reports Fourth Quarter Earnings and 32nd Consecutive Year of Profitability
Date: 1/19/2005 6:40:00 AM
For a complete listing of our News Releases, please click here
DALLAS, Jan. 19 /PRNewswire-FirstCall/ -- Southwest Airlines (NYSE: LUV)today reported its fourth quarter results. Net income for fourth quarter 2004was $56 million, or $.07 per diluted share, compared to $66 million, or$.08 per diluted share, for fourth quarter 2003. The Company also reported its 32nd consecutive year of profitability, withannual net income of $313 million, or $.38 per diluted share, compared to 2003net income of $442 million, or $.54 per diluted share. Excluding last year'sgovernment grant, 2003 net income was $298 million, or $.36 per diluted share. Gary C. Kelly, CEO, stated: "I am very proud of our Employees and theirstrenuous efforts to lower our cost structure. Although our fourth quarter2004 earnings declined 15.2 percent due to significantly higher energy costs,our unit costs, excluding fuel, declined 4.5 percent. As a result of our lowcost competitive advantage and ongoing efforts to improve productivity, wehave been able to offer the low fares our Customers demand while sustainingour profitability and growing our route system during these difficult airlineindustry times. Based on current cost trends, we expect our first quarter 2005unit costs, excluding fuel, to decline from first quarter 2004's unit costs,excluding fuel, of 6.57 cents. www.southwest.com /
Title: Southwest Airlines Reports Fourth Quarter Earnings and 32nd Consecutive Year of Profitability
Date: 1/19/2005 6:40:00 AM
For a complete listing of our News Releases, please click here
DALLAS, Jan. 19 /PRNewswire-FirstCall/ -- Southwest Airlines (NYSE: LUV)today reported its fourth quarter results. Net income for fourth quarter 2004was $56 million, or $.07 per diluted share, compared to $66 million, or$.08 per diluted share, for fourth quarter 2003. The Company also reported its 32nd consecutive year of profitability, withannual net income of $313 million, or $.38 per diluted share, compared to 2003net income of $442 million, or $.54 per diluted share. Excluding last year'sgovernment grant, 2003 net income was $298 million, or $.36 per diluted share. Gary C. Kelly, CEO, stated: "I am very proud of our Employees and theirstrenuous efforts to lower our cost structure. Although our fourth quarter2004 earnings declined 15.2 percent due to significantly higher energy costs,our unit costs, excluding fuel, declined 4.5 percent. As a result of our lowcost competitive advantage and ongoing efforts to improve productivity, wehave been able to offer the low fares our Customers demand while sustainingour profitability and growing our route system during these difficult airlineindustry times. Based on current cost trends, we expect our first quarter 2005unit costs, excluding fuel, to decline from first quarter 2004's unit costs,excluding fuel, of 6.57 cents. www.southwest.com /
