MESA PROFITS CONTINUE IN FIRST QUARTER
MESA PROFITS CONTINUE IN FIRST QUARTER FARMINGTON, N.M., Feb. 12 /PRNewswire/ -- Mesa Airlines Inc.
(NASDAQ: MESA) reported its earnings today for the first quarter of its 1992 fiscal year. The company had operating income of $3,131,055 on $26,953,796 of operating revenue, with a net income of $1,939,602, an increase of 257 percent over the like period last year. With average shares outstanding of 6,462,905, the company had earnings per share of 30 cents, an increase of 58 percent over last year.
Total passengers increased to 317,636 compared to 217,273. Yield per revenue passenger mile was up to $.382 from $.353 while the operating cost per available seat mile dropped to $.157 from $.161 in the first quarter one year ago. Mesa President Larry Risley stated, "While we have been aggressive in our acquisition strategy, we have continued to hold firm to the concept that growth must follow profitability. We are particularly encouraged by the early results of our new operation, FloridaGulf Airlines, operating as USAir Express in Tampa, Florida." Mesa Airlines 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. FloridaGulf, a wholly owned subsidiary, also operates as USAir Express out of a Tampa, Fla. hub. MESA AIRLINES INC. For the Three For the Three Months Ended Months Ended Dec. 31, 1991 Dec. 31, 1990 Financial Summary Operating revenues $26,953,796 $16,830,518 Operating income 3,131,055 818,737 Net income 1,939,602 543,916 Net income per share .30 .19 Average shares outstanding 6,462,905 2,864,642 Operating Statistics Passengers carried 317,636 217,273 Available seat miles (000) 151,405 99,476 Revenue passenger miles (000) 66,008 45,660 Load factor (Pct.) 43.6 45.9 Yield per revenue passenger mile $.382 $.353 Operating cost per available seat mile $.157 $.161 -0- 2/12/92 /CONTACT: Gary Risley or Jonathan Ornstein both of Mesa Airlines, 505-327-0271/ (MESA) CO: Mesa Airlines Inc. ST: New Mexico IN: AIR SU: ERN
MC -- DV007 -- 9283 02/12/92 13:39 EST
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|Date:||Feb 12, 1992|
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