tcook052
Jul 29, 04, 6:22 pm
DENVER, July 29 /PRNewswire-FirstCall/ -- Frontier Airlines, Inc.
(Nasdaq: FRNT) today reported a net loss of $6.6 million, or $0.18 per diluted
common share, for the airline's fiscal first quarter ended June 30, 2004
compared to a net profit of $10.9 million, or $0.36 per diluted common share,
for the same period last year. Included in the net loss for the quarter ended
June 30, 2004 were the following special items before the effect of income
taxes; a loss of $489,000 on the sale of two Airbus A319 aircraft in a
sale-leaseback transaction, a write down of $388,000 of the carrying value of
expendable Boeing 737 inventory, and a $477,000 unrealized loss on hedging
derivatives. These items net of income taxes increased the net loss by
$.02 per share. The Company's net income for the quarter ended June 30, 2003
included $15.0 million received under the Appropriations Act, aircraft lease
exit costs of $686,000, and an unrealized gain on hedging derivatives of
$752,000. The net effect of these items, net of income taxes and related
profit sharing contributions, increased net income by $0.29 per diluted share.
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=109&STORY=/www/story/07-29-2004/0002221754&EDATE=
(Nasdaq: FRNT) today reported a net loss of $6.6 million, or $0.18 per diluted
common share, for the airline's fiscal first quarter ended June 30, 2004
compared to a net profit of $10.9 million, or $0.36 per diluted common share,
for the same period last year. Included in the net loss for the quarter ended
June 30, 2004 were the following special items before the effect of income
taxes; a loss of $489,000 on the sale of two Airbus A319 aircraft in a
sale-leaseback transaction, a write down of $388,000 of the carrying value of
expendable Boeing 737 inventory, and a $477,000 unrealized loss on hedging
derivatives. These items net of income taxes increased the net loss by
$.02 per share. The Company's net income for the quarter ended June 30, 2003
included $15.0 million received under the Appropriations Act, aircraft lease
exit costs of $686,000, and an unrealized gain on hedging derivatives of
$752,000. The net effect of these items, net of income taxes and related
profit sharing contributions, increased net income by $0.29 per diluted share.
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=109&STORY=/www/story/07-29-2004/0002221754&EDATE=