Alaska Air Group Reports Second Quarter Results; Government Aid a Huge Help.
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Alaska Air Group Reports Second Quarter Results; Government Aid a Huge Help.
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SEATTLE--(BUSINESS WIRE)--July 22, 2003 Aided by $71.4 million in government assistance ($44.3 million after tax), Alaska Air Group, Inc. (NYSE:ALK) today reported second quarter net income of $45.2 million, or $1.70 per share, compared with a net loss of $2.9 million, or $0.11 per share, in the second quarter of 2002. Without the non-recurring compensation received under the Emergency Wartime Supplemental Appropriations Act, the company's net income during the quarter was $0.9 million, or $0.03 per share. The company's net loss for the six months ended June 30, 2003, was $11.1 million, or $0.42 per share, compared to a net loss of $88.0 million, or $3.32 per share, during the same period in 2002. The 2002 net loss includes $51.4 million, or $1.94 per share, related to the write-off of goodwill in connection with the adoption of Statement of Financial Accounting Standards No. 142. Excluding the governm...See the full content of this document
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