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Non-Tech : Alaska Air (ALK)
ALK 40.70-2.6%3:59 PM EDT
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To: Kenneth Kirk who wrote (129)1/31/2005 1:45:25 PM
From: Kenneth Kirk  Read Replies (1) of 152
 
SEATTLE -- Alaska Air Group Inc. said Friday that its losses deepened in the fourth quarter in part because of several big one-time charges.

For the three months ended Dec. 31, Seattle-based Alaska reported a loss of $44.9 million, compared with a loss of $16.1 million in the same period a year earlier.

The loss included a pretax restructuring charge of $16 million, a pretax fuel hedging loss $14.2 million, and another pretax charge of $400,000 because of the retirement of some airplanes.

Without the charges, the company would have had a net loss of $14.3 million.

Revenue for the three-month period rose 7 percent to $656.3 million, meeting Wall Street expectations, from $613.3 million in the year-ago period.

For the full year, the company swung to a loss of $15.3 million, on revenue of $2.72 billion. That compares with a profit of $13.5 million on revenue of $2.44 billion in 2003.
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