Southwest Airlines Reports Second Quarter Earnings
Thursday July 24, 7:15 am ET
DALLAS, July 24 /PRNewswire-FirstCall/ -- Southwest Airlines (NYSE: LUV - News) today reported its second quarter 2008 results. Net income for second quarter 2008 was $321 million, or $.44 per diluted share, compared to $278 million, or $.36 per diluted share, for second quarter 2007. Excluding special items, second quarter 2008 net income was $121 million, or $.16 per diluted share, compared to $195 million, or $.25 per diluted share, for second quarter 2007. The second quarter 2008 results exceed First Call's mean estimate of $.12 per diluted share. Refer to the reconciliation in the accompanying tables for further information regarding special items.
Second Quarter 2008 Financial Highlights:
-- Record quarterly revenues of $2.9 billion, up 11.1 percent from second
quarter 2007
-- Net income, excluding special items, of $121 million, down 37.9 percent
-- Net income per diluted share, excluding special items, of $.16, down 36
percent
-- Favorable cash settlements of $511 million from fuel contracts were
reflected in net income, excluding special items
Link
Thursday July 24, 7:15 am ET
DALLAS, July 24 /PRNewswire-FirstCall/ -- Southwest Airlines (NYSE: LUV - News) today reported its second quarter 2008 results. Net income for second quarter 2008 was $321 million, or $.44 per diluted share, compared to $278 million, or $.36 per diluted share, for second quarter 2007. Excluding special items, second quarter 2008 net income was $121 million, or $.16 per diluted share, compared to $195 million, or $.25 per diluted share, for second quarter 2007. The second quarter 2008 results exceed First Call's mean estimate of $.12 per diluted share. Refer to the reconciliation in the accompanying tables for further information regarding special items.
Second Quarter 2008 Financial Highlights:
-- Record quarterly revenues of $2.9 billion, up 11.1 percent from second
quarter 2007
-- Net income, excluding special items, of $121 million, down 37.9 percent
-- Net income per diluted share, excluding special items, of $.16, down 36
percent
-- Favorable cash settlements of $511 million from fuel contracts were
reflected in net income, excluding special items
Link
