SkyWest, Inc. (NASDAQ: SKYW) fourth quarter of 2015 adjusted net income totaled USD25 million or USD0.49 per diluted share, up from adjusted net income of USD15.7 million or USD0.31 per diluted share in 2014, the airline said.
GAAP net income for the quarter was USD40 million, or USD0.78 per diluted share, compared to a loss of USD28 million or USD(0.54) per diluted share for the same quarter of 2014.
Adjusted net income for the full year 2015 was USD103 million, or USD1.98 per diluted share, up from adjusted net income of USD7 million, or USD0.14 per diluted share, in 2014. GAAP net income for the full year 2015 was USD118 million, or USD2.27 per diluted share, compared to a net loss of USD24 million or USD(0.47) per share for 2014.
The GAAP results for the fourth quarter 2015 include two special items totaling USD25 million in pre-tax income: a net gain of USD33 million from the early extinguishment of debt and USD8 million revenue reduction from the resolution of a flying contract matter. Both of these special items are excluded from the calculation of SkyWest´s adjusted net income for the quarter.
SkyWest airline companies provide commercial air service in cities across the United States, Canada, Mexico and the Caribbean with more than 3,300 scheduled daily flights. SkyWest Airlines operates through partnerships with United, Delta, US Airways, American and Alaska Airlines. ExpressJet operates through partnerships with United, Delta and American.