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Media Relations Manager
Managing Director of Investor Relations
FOR IMMEDIATE RELEASE
January 26, 2012
Fourth quarter net income, excluding special items, of $37.2 million, or $1.02 per diluted share, compared to net income of $47.4 million, or $1.28 per diluted share. This quarter's results compare to a First Call mean estimate of $1.14 per share.
Record full-year net income, excluding special items, of $287.4 million, or $7.83 per diluted share, compared to $262.6 million, or $7.14 per diluted share.
Net income for the fourth quarter under Generally Accepted Accounting Principles (GAAP) of $64.0 million, or $1.76 per diluted share, compared to net income of $64.8 million, or $1.75 per diluted share. Full-year GAAP net income of $244.5 million, or $6.66 per diluted share, compared to net income of $251.1 million, or $6.83 per diluted share.
Alaska Airlines held the No. 1 spot in U.S. Department of Transportation on-time performance among the 10 largest U.S. airlines for the twelve months ended November 2011.
Air Group employees earned $72 million in incentive pay, or nearly one-month's pay for most employees.
Contributed $133 million to the defined-benefit pension plans during 2011, despite having no required contribution.
Improved employee productivity by 2.7 percent compared to the fourth quarter of 2010.
Alaska Airlines signed a five-year agreement with the Aircraft Mechanics Fraternal Association (AMFA) representing the aircraft technicians in December.
Redesigned alaskaair.com to establish more direct customer relationships, leading to a December record of more than 55 percent of total bookings.
Completed the current $50 million share repurchase program in early January 2012. Since 2007, Air Group has used $262 million to repurchase 8.4 million shares.
Twelve-month return on invested capital of 12 percent.
Lowered adjusted debt-to-total capitalization ratio by 5 points since December 31, 2010 to 62 percent.
Held $1.1 billion in unrestricted cash and marketable securities as of December 31, 2011.
The following information was filed by Alaska Air Group, Inc. (ALK) on Thursday, January 26, 2012 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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