Spirit Airlines, Inc. (SAVE) reported that its fourth-quarter net income increased to $43.2 million or $0.59 per share, from $19.6 million or $0.27 per share, last year. Adjusted net income for the fourth quarter of 2013 was $41.0 million or $0.56 per share.
On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $0.50 for the quarter. Analysts' estimates typically exculde special items.
Total operating revenue was $420.0 million, an increase of 27.9 percent compared to the fourth quarter 2012. The company said the year-over-year increase was driven by continued strong demand and growth in capacity. The increase was also partly attributable to the negative revenue impact in the fourth quarter 2012 related to Hurricane Sandy. Analysts expected revenue of $421.44 million for the quarter.
by RTT Staff Writer
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