MESA EARNS $1.82 PER SHARE FOR YEAR
MESA EARNS $1.82 PER SHARE FOR YEAR FARMINGTON, N.M., Nov. 26 /PRNewswire/ -- Mesa Airlines Inc.
(NASDAQ: MESA) reported earnings per share today of $1.82 on revenues of $77,838,000 for fiscal year 1991 (ended Sept. 30). Net earnings were $5,034,000, a 58 percent increase over 1990. Average shares outstanding were 2,764,557. "Our shareholders will be pleased to know that the acquisition of Air Midwest in the fourth quarter was not dilutive on a per-share basis," stated Larry Risley, president and chairman of the board.
The company also released its year-end traffic figures. The company carried 974,507 passengers in fiscal 1991, a 50.2 percent increase as compared to 1990. Revenue passenger miles were 207,978,000, a 60.3 percent increase from 1990's figures. Available seat miles were 467,191,000 in 1991, up 74 percent over 1990. System- wide, load factor was 44.5 percent in 1991. Mesa Airlines, Inc. operates as an independent carrier out of its Albuquerque and Phoenix hubs and as a United Express carrier out of its Denver hub. Skyway Airlines, a wholly owned subsidiary, operates as a code-share with Midwest Express Airlines out of its Milwaukee hub. Air Midwest is a wholly owned subsidiary operating as a code-share with USAir out of its Kansas City, Mo. hub. MESA AIRLINES INC. For the year ended Sept. 30 1991 1990(i) Financial Summary Operating revenues $ 77,838,000 $ 45,954,000 Operating income 8,156,000 5,925,000 Net income 5,034,000 3,173,000 Net income per share 1.82 1.90 Average shares outstanding 2,764,557 1,670,173 Operating Statistics Passengers 974,507 648,837 Available seat miles (000) 467,191 268,439 Revenue passenger miles (000) 207,978 129,745 Load factor (in pct.) 44.5 pct. 48.3 pct. Yield per revenue passenger mile $.354 $.337 Operating cost per available seat mile $.149 $.149 (i)Does not include cumulative effect of accounting change of $455,317. -0- 11/26/91 /CONTACT: Gary Risley of Mesa Airlines Inc., 505-327-0271/ (MESA) CO: Mesa Airlines, Inc. ST: New Mexico IN: AIR SU: ERN
DG -- DV004 -- 7141 11/26/91 08:34 EST
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|Date:||Nov 26, 1991|
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