Delta Air Lines (DAL) posted first-quarter GAAP net income, including a $163 million gain from special items, of $124 million or $0.15 per share, versus a loss of $318 million or $0.38 per share last year. Excluding special items, Delta's net loss for March 2012 quarter was $39 million, or $0.05 per share, the company added. On average, 14 analysts polled by Thomson Reuters expected loss per share of $0.05 for the quarter. Analysts' estimates typically exclude one-time items.
Quarterly total operating revenue was $8.41 billion, a 9% increase from $7.75 billion in the prior-year quarter, whereas 9 analysts estimated revenues of $8.36 billion for the quarter. Despite lower capacity, traffic increased 1% as load factor increased 3.3 points to 79.7%.
Looking forward to the second quarter, the company projects operating margin of 8% - 10% and capital expenditures of $400 million.
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