SkyWest Light on Top

Revenue misses estimates.
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SkyWest (SKYW) - Get Report matched third-quarter earnings estimates but came in light on sales.

The St. George, Utah, commuter airline made $41 million, or 63 cents a share, for the quarter ended Sept. 30, up from the year-ago $30 million, or 51 cents a share. Revenue rose to $792 million from $497 million a year earlier.

Analysts surveyed by Thomson Financial were looking for a 63-cent profit on revenue of $806 million.

SkyWest cited a 63.3% increase in available seat miles but said revenue was hit by a 5% decrease in revenue per available seat mile and by increased fuel cost reimbursements by SkyWest's major partners that are recorded as operating revenues under contract flying arrangements.