Alaska Air Profit Rises 35% as Costs Fall

SEATTLE ( TheStreet) -- Alaska Air ( ALK) said quarterly net income rose 35% as costs fell.

Excluding items, the carrier reported net income of $50 million, or 70 cents a share. Analysts surveyed by Thomson Reuters had estimated 71 cents. Revenue rose 8% to $1.1 billion, in line with estimates. In the same period a year earlier, excluding items, Alaska earned $37 million, or 51 cents a share.

Including items, primarily $10 million in fuel hedge losses, Alaska earned $44 million, or 61 cents a share, compared with net income of $64 million, or 88 cents a share, in the same period a year earlier.

During the quarter, consolidated passenger revenue per available seat mile rose 0.8% while consolidated cost per available seat mile excluding fuel and special items declined by 1.2% to 8.72 cents.

The carrier said it achieved a 12-month return on invested capital of 13%, surpassing its goal of 10%. At year-end, Alaska had $1.3 billion in unrestricted cash and marketable securities.

-- Written by Ted Reed in Charlotte, N.C.

>To contact the writer of this article, click here: Ted Reed

More from Stocks

PayPal's Stock Is Poised for an Explosive Move

PayPal's Stock Is Poised for an Explosive Move

Boeing's Blowout Quarter Proves Why There Won't Be a Stock Market Panic

Boeing's Blowout Quarter Proves Why There Won't Be a Stock Market Panic

Twitter Founder Jack Dorsey Deserves a Nice Tweet After Q1 Results

Twitter Founder Jack Dorsey Deserves a Nice Tweet After Q1 Results

Key Numbers for Investors to Watch as Amazon, Microsoft and Intel Report Results

Key Numbers for Investors to Watch as Amazon, Microsoft and Intel Report Results

Twitter Tops Wall Street's Estimates - Here Are the Key Numbers You Need to Know

Twitter Tops Wall Street's Estimates - Here Are the Key Numbers You Need to Know