Newspaper article St Louis Post-Dispatch (MO)

Delta, Southwest's Profits Climb

Newspaper article St Louis Post-Dispatch (MO)

Delta, Southwest's Profits Climb

Article excerpt

Delta Air Lines Inc. and Southwest Airlines Co. reported strong profits for the latest quarter Thursday, despite higher jet fuel costs, becoming the latest major airlines to post solid results.

Delta Air Lines, the nation's third-largest carrier, racked up net income of $189 million, or $2.52 a share, for its third quarter, compared with a net loss of $276 million, or $5.77 a share, a year earlier, when it took a charge of $556 million, primarily due to writeoffs related to its fleet of older Lockheed L-1011 jetliners.

Southwest Airlines said its first-quarter net income climbed 54 percent to $50.9 million, or 34 cents a share, from $33 million, or 22 cents a share. Other earnings, for the first quarter unless otherwise noted: MCI Communications Corp. said profit was unchanged from a year earlier, as wider losses in new local phone and international operations offset an increase in long-distance earnings. The nation's No. 2 long-distance company behind AT&T Corp. said it earned $295 million, or 42 cents a share, the same as a year earlier. American Express Co. said net income rose 15 percent to $454 million, or 94 cents a share, from $396 million, or 80 cents, a year ago. AlliedSignal Inc. said earnings rose 15 percent to $259 million, or 92 cents a share, from $225 million, or 80 cents a share, a year earlier. Mattel Inc. said earnings before a charge fell 74 percent on lower sales of Fisher-Price toys and the rising dollar. A charge of $210 million, or 73 cents a share, for the acquisition of Tyco Toys Inc. resulted in a final loss of $204.6 million, or 72 cents, in the most-recent quarter. Mattel reported profit from operations of $5.4 million, or 1 cent a share, up from $20.5 million, or 7 cents, a year earlier. There weren't any extraordinary charges or gains in the year-earlier period. …

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