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XJT - 2nd QTR income down 18%?

hotwing

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Nov 1, 2002
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a few
ExpressJet 2Q Profit Falls 18 Percent

[url="http://news.moneycentral.msn.com/inc/images/prov_ap.gif"]http://news.moneycentral.msn.com/inc/images/prov_ap.gif
All Associated Press News[/url]
HOUSTON (AP) - ExpressJet Holdings Inc., operator of the Continental Express regional airline, on Friday reported its second-quarter profit slid 18 percent, as higher operating expenses offset slightly higher revenue.

ExpressJet, which provides connecting flights for former parent Continental Airlines Inc., reported earnings of $24.4 million, or 41 cents per share, compared with $29.7 million, or 49 cents per share, in the prior-year period.

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Wall Street had forecast slightly higher earnings of 42 cents per share, the average view of five analysts surveyed by Thomson Financial.

Revenue rose 5 percent to $388.7 million from $370.8 million a year ago. However, operating expenses for wages, plane rentals and other items rose nearly 9 percent to $348.7 million from $320.7 million a year ago.

Revenue passenger miles rose 18 percent, while passenger load factor -- a closely watched industry gauge measuring how many seats are filled with paying passengers -- improved 1 percentage point to 74.2 percent.

ExpressJet forecast capital spending of $15 million for the rest of this year. It spent $3.5 million on capital expenditure in the quarter just ended.

The airline ended the quarter with $224.2 million in cash, cash equivalents and short-term investments, including $6.3 million in restricted cash.



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nimtz

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?
Another clear reason why a career with Xjet is so much safer then taking a class date at Continental. Ah yes, career regional pilot at 35. Nothing could possibly go wrong at this regional? You are too senior!
 

TNPILOT

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nimtz said:
Another clear reason why a career with Xjet is so much safer then taking a class date at Continental. Ah yes, career regional pilot at 35. Nothing could possibly go wrong at this regional? You are too senior!

No joke. Too many question marks for the long, long run.
 

BluDevAv8r

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Nov 26, 2001
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Enough
This decrease was expected as we reset our rate with CAL in order to remain more competitive on a going forward basis. Block hours have gone up but the block hour rate (and thus, margin) went south...and that is why the net income went south...due to that offset of the lower block hour rate.

-Neal
 
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