iOS app Android app More

News Summary: US Airways net income declines

stumbleupon: News Summary: US Airways net income declines   digg: US Works With Sudan Government Suspected Of Aiding Genocide   reddit: News Summary: US Airways net income declines   del.icio.us: News Summary: US Airways net income declines

The Associated Press | October 23, 2013 04:17 PM EST | AP


NET INCOME: US Airways' third-quarter net income fell 12 percent to $216 million, or $1.04 per share, mostly because of a jump in tax obligations — it used up the ability to use past losses to reduce taxes.

BEATS EXPECTATIONS: Excluding costs related to its proposed merger with American, the company would have earned $1.16 per share, 4 cents better than analysts expected.

FOURTH QUARTER: The government shutdown hurt October bookings and caused US Airways to cut its forecast for a key revenue-per-seat figure. J.P. Morgan cited the change in lowering its estimate of fourth-quarter earnings to 53 cents per share from 64 cents. Analysts surveyed by FactSet were expecting 48 cents per share.