AAI » Topics » Note 14-Quarterly Financial Data (Unaudited)

This excerpt taken from the AAI 10-K filed Mar 1, 2007.

Note 14—Quarterly Financial Data (Unaudited)

Summarized quarterly financial data for 2006 and 2005 is as follows (in thousands, except per share data):

 

     March 31     June 30    September 30     December 31  

2006

         

Operating revenue

   $ 416,042     $ 528,163    $ 487,269     $ 461,881  

Operating income (loss)

     (11,256 )     54,501      (3,579 )     2,467  

Net income (loss)

     (8,810 )     31,958      (4,309 )     (3,325 )

Earnings (loss) per common share:

         

Basic

     (0.10 )     0.35      (0.05 )     (0.04 )

Diluted

     (0.10 )     0.32      (0.05 )     (0.04 )

2005

         

Operating revenue

   $ 299,707     $ 366,323    $ 374,644     $ 409,870  

Operating income (loss)

     (8,340 )     23,604      3,420       4,806  

Net income (loss)

     (7,295 )     14,038      964       369  

Earnings (loss) per common share:

         

Basic

     (0.08 )     0.16      0.01       —    

Diluted

     (0.08 )     0.15      0.01       —    

The results of the fourth quarter of 2005 include expense of $2.7 million, net of tax, related to an advertising barter transaction in which we exchanged flight credits in our frequent flyer program for promotional consideration.

The results of the third quarter of 2006 include expense of $1.4 million, net of tax, related to a change in estimated volume of travel exchanged in connection with the 2005 advertising barter transaction.

The results of the fourth quarter of 2006 include expense of $1.0 million, net of tax, related to a change in estimated volume of travel exchanged in connection with the 2005 advertising barter transaction and a benefit of $1.9 million, net of tax, related to claim settlements.

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