MIRAMAR, Fla., July 24, 2013 (GLOBE NEWSWIRE) -- Spirit Airlines, Inc. (Nasdaq:SAVE) today reported second quarter 2013 financial results.
- Adjusted net income for the second quarter 2013 increased 29.6 percent to $45.8 million 1 ($0.63 per diluted share) compared to $35.3 million 1 ($0.49 per diluted share) for the second quarter 2012. GAAP net income for the second quarter 2013 was $42.1 million ($0.58 per diluted share) compared to $34.6 million ($0.48 per diluted share) in the second quarter 2012.
- Spirit achieved an adjusted pre-tax margin of 17.8 percent 1 and a GAAP pre-tax margin of 16.4 percent for the second quarter 2013.
- Spirit ended the second quarter 2013 with $525 million in unrestricted cash.
- Spirit's return on invested capital (before taxes and excluding special items) for the last twelve months ended June 30, 2013 was 28.8 percent. See "Calculation for Return on Invested Capital" table below for more details.