MIRAMAR, Fla., Oct. 30, 2013 (GLOBE NEWSWIRE) -- Spirit Airlines, Inc. (Nasdaq:SAVE) today reported third quarter 2013 financial results.
- Adjusted net income for the third quarter 2013 increased 130.3 percent to $57.9 million 1 ($0.79 per diluted share) compared to $25.2 million 1 ($0.35 per diluted share) for the third quarter 2012. GAAP net income for the third quarter 2013 was $61.1 million ($0.84 per diluted share) compared to $30.9 million ($0.43 per diluted share) in the third quarter 2012.
- Spirit achieved an adjusted pre-tax margin of 20.3 percent 1, the highest quarterly adjusted pre-tax margin in the Company's history. On a GAAP basis, pre-tax margin for the third quarter 2013 was 21.4 percent.
- Spirit ended the third quarter 2013 with $540 million in unrestricted cash.
- Spirit's return on invested capital (before taxes and excluding special items) for the last twelve months ended September 30, 2013 was 31.3 percent. See "Calculation for Return on Invested Capital" table below for more details.