Alaska Air Restates Due to Clerical Error

Its nine-months net goes to $29.6 million from $34.8 million.
Publish date:

Alaska Air Group

(ALK) - Get Report

is revising earnings downward for the first three quarters of the year as a result of a clerical error.

The Seattle-based airline company said it has revised third-quarter consolidated net income to $74.0 million, or $2.75 a share, from an originally reported $79.2 million, or $2.94 a share. For the first three quarters combined, Alaska has revised consolidated net to $29.6 million, or $1.10 a share, from $34.8 million, or $1.29 a share.

Alaska Air, which disclosed the restatement in a

Securities and Exchange Commission

filing, said it made an error calculating the deferred Mileage Plan revenue when it originally reported its third quarter. The company said it discovered the mistake this month.

Alaska Air shares finished Wednesday's session up 21 cents, or 0.7%, at $32.30.