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Non-Tech : Southwest Airlines (LUV))
LUV 32.35+2.6%3:52 PM EST

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To: Wallace Rivers who wrote (139)4/24/1997 4:34:00 PM
From: Roger Zucchet   of 299
 
Wallace,

I didn't realize there was so much of a disparity between expected and actual earnings. I figured the recent price jump had to do well-known seasonal price cycles that all airlines stocks follow.

I didn't notice anything astounding in the other numbers in the annual report like load factor, revenue seat per mile, cost per mile, etc... They all seemed pretty normal and "predictable" according to LUV's past reports and trends.

Soooo, are you sure about the consensud estimate of .23? I wonder how they could be so far off the mark (although I know "experts" can be really wrong sometimes)?

-Roger
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