MIRAMAR, Fla., April 30, 2013 (GLOBE NEWSWIRE) -- Spirit Airlines, Inc. (Nasdaq:SAVE) today reported first quarter 2013 financial results.
- Adjusted net income for the first quarter 2013 was $32.8 million, or $0.45 per diluted share 1. GAAP net income was $30.6 million, or $0.42 per diluted share.
- For the first quarter 2013, Spirit achieved an operating margin, excluding special items, of 14.4 percent 1. Operating margin on a GAAP basis was 13.4 percent for the first quarter 2013.
- Spirit ended the first quarter 2013 with $483.5 million in unrestricted cash.
- Spirit grew total available seat miles ("ASMs") 20.8 percent as compared to the first quarter 2012.
- Spirit's return on invested capital (before taxes and excluding special items) for the last twelve months ended March 31, 2013 was 28.0 percent. See "Calculation for Return on Invested Capital" table below for more details.