Tue, Oct 16, 2007
Delta Air Lines Reports $363 Million Pre-tax Income for
September '07 Quarter
Delta Airlines
'successful international expansion' is apparently the driving
force behind their 'highest quarterly operating revenue ever."
This, of course, will not be ignored when Delt's labor force
agreements come up for renegotiation over the next few years. We
can just imagine THOSE headlines... but we digress.
The Delta Air Lines results for the quarter
(ending) Sept. 30, 2007, include:
- Delta generated third quarter pre-tax income of $363 million
on operating revenue of $5.2 billion, the highest quarterly
revenue in company history.
- Net income for the September 2007 quarter was $220 million, or
$0.56 per diluted share.
- During the quarter, Delta continued to strengthen its balance
sheet, paying down more than $1.0 billion in debt obligations.
- Delta has accrued almost $160 million in profit sharing through
the September 2007 quarter, in recognition of the critical role of
Delta employees in achieving the company's financial targets.
Net income for the September 2007 quarter was $220 million, or
$0.56 per diluted share. Delta's pre-tax income of $363 million
reflects a more than $430 million improvement over the pre-tax loss
of $69 million excluding reorganization items in the third quarter
of 2006(1,2). Strong revenue improvements and continued cost
benefits from restructuring produced the more than 5 point
improvement in Delta's operating margin to 8.7% in the September
2007 quarter compared to the September 2006 quarter.
"I want to thank my Delta colleagues for their efforts in
delivering strong improvements to our financial and operational
performance," said Richard Anderson, Delta's chief executive
officer.
"As these results demonstrate, Delta has emerged as a leader in
the airline industry and we intend to maintain that position. We
have significant opportunities in front of us as our financial
improvements, combined with the power of our people, route network
and balance sheet, give us tremendous flexibility and strength as
the industry continues to evolve."
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