SKYWEST INC. REPORTS JUNE QUARTER RESULTS
SKYWEST INC. REPORTS JUNE QUARTER RESULTS ST. GEORGE, Utah, Aug. 4 /PRNewswire/ -- SkyWest Inc.
(NASDAQ: SKYW) today reported records in operating revenues, passengers enplaned, and revenue passenger miles for the quarter ended June 30, 1992. Net income increased to $1,647,000, or $.31 per common share, for the three months ended June 30, 1992, compared to $180,000, or $.03 per common share, for the comparable period last year.
Commenting on the results, Bradford R. Rich, senior vice president-finance and chief financial officer, said, "We are obviously encourage by the significant improvement in our financial performance particularly in spite of the difficulties and challenges facing the airline industry. The results reflect a continuing positive trend of the growth in passenger demand (RPMs) exceeding the growth in capacity (ASMs) resulting from our commitment to continually improve the total quality of our service." SkyWest Inc. is the holding company for SkyWest Airlines Inc., Aviation Services West Inc. and National Parks Transportation Inc. SkyWest Airlines Inc. operates as the Delta Connection, offering scheduled air service to 42 cities in eight western states, including the Delta hubs of Salt Lake City and Los Angeles. The company's common stock is traded in the NASDAQ national market system under the symbol SKYW. SKYWEST INC. Unaudited Financial and Operating Highlights Three Months Ended June 30, 1992 1991 Percent Change Financial Highlights Operating revenues $35,250,000 $28,895,000 22.0 pct. Operating expenses 32,452,000 28,390,000 14.3 pct. Operating income 2,798,000 505,000 454.1 pct. Other income (expense) (192,000) (200,000) (4.0 pct.) Income before provision for income taxes 2,606,000 305,000 754.4 pct. Net income 1,647,000 180,000 815.0 pct. Net income per common share $.31 $.03 933.3 pct. Weighted average common shares outstanding 5,252,994 5,213,413 0.8 pct. Operating Highlights Passengers carried 361,504 309,985 16.6 pct. Revenue passenger miles (000) 68,668 58,105 18.2 pct. Available seat miles (000) 163,072 145,182 12.3 pct. Passenger load factor 42.1 pct. 40.0 pct. 5.3 pct. Breakeven load factor 39.7 pct. 40.4 pct. (1.7 pct.) Revenue per passenger mile $.453 $.449 .9 pct. Cost per available seat mile $.187 $.187 --- Average passenger trip length 190 187 1.6 pct. -0- 8/4/92 /CONTACT: Bradford R. Rich, senior VP-finance and CFO of SkyWest, 801-634-3000/ (SKYW) CO: SkyWest Inc. ST: Utah IN: AIR SU: ERN
JB-AL -- LA006 -- 6449 08/04/92 07:00 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||Aug 4, 1992|
|Previous Article:||AUDI ORDERS A CRAY RESEARCH SUPERCOMPUTER|
|Next Article:||NEW DISPOSABLE LIGHTER MAKES IT DIFFICULT FOR CHILDREN TO IGNITE; DEVELOPMENT CALLED SIMILAR TO SAFETY MEDICINE BOTTLES|