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Contact: Elise Eberwein
480/693-5574
480/693-5574
FOR IMMEDIATE RELEASE
US AIRWAYS GROUP, INC. REPORTS FIRST QUARTER PROFIT
Highlights of the US Airways Group, Inc. (the Company) first quarter 2007 results:
| • | The Company reported a first quarter 2007 net profit of $66 million, or $0.70 per diluted share. | ||
| • | Excluding special items, the Company reported a first quarter 2007 net profit of $34 million, or $0.37 per diluted share . | ||
| • | The Company accrued approximately $4 million, or 10 percent of its first quarter 2007 pretax income excluding special items, for its annual employee profit sharing program. | ||
| • | The Company had $3.3 billion in total cash and investments, of which $2.5 billion was unrestricted, on March 31, 2007 |
TEMPE, Ariz., Apr. 26, 2007 — US Airways Group, Inc. (NYSE: LCC) today reported its first quarter
2007 results. Net profit for the first quarter was $66 million, or $0.70 per diluted share,
compared to a net profit before cumulative effect of change in accounting principle of $64 million,
or $0.75 per diluted share for the same period last year. Excluding net credits from special items
of $32 million, the Company reported a net profit of $34 million, or $0.37 per diluted share. This
compares to a net profit, before cumulative effect of change in accounting principle of $5 million,
or $0.05 per diluted share in the first quarter of 2006, which excludes net credits from special
items of $59 million. See the accompanying notes in the Financial Tables section of this press
release for a reconciliation of Generally Accepted Accounting Principles (GAAP) financial
information to non-GAAP financial information
Chairman and CEO Doug Parker stated, “We are pleased to report a first quarter profit and an
improvement in year-over-year earnings. This is particularly noteworthy given the first quarter
was extremely difficult for us operationally. We were affected by two major storms that temporarily
closed our Philadelphia hub and severely impacted our Northeast operations. Service disruptions
also occurred during the quarter when we converted our two reservation systems to a single system.
“Our 36,000 employees are to be commended for their outstanding efforts, particularly our employees
who work with customers at our airports and reservation call centers. Our team did a remarkable job
of taking care of our customers during a challenging conversion. We still have work to do to ensure
our people have the tools they need to
The following information was filed by America West Airlines Inc on Thursday, April 26, 2007 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one quarter to another to evaluate America West Airlines Inc's financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by America West Airlines Inc.
706270 Quarterly Reports
- 10-Q Quarterly Report July 2007
-
10-Q Quarterly Report April 2007
- 10-Q Quarterly Report October 2006
- 10-Q Quarterly Report July 2006
- 10-Q Quarterly Report May 2006
