Newspaper article THE JOURNAL RECORD

2nd Quarter AMR Income $47 Million

Newspaper article THE JOURNAL RECORD

2nd Quarter AMR Income $47 Million

Article excerpt

FORT WORTH (AP) _ Net income of $47 million, or 39 cents per share, was reported Wednesday for the second quarter by American Airlines parent AMR Corp. American provides passenger service to and from Will Rogers World Airport in Oklahoma City.

A net loss of $183 million, or $2.43 per share was reported for the second quarter of 1992; AMR has been beset by quarterly losses for nearly two years. Revenues rose by more than 17 percent to $4.2 billion from $3.59 billion.

The results include a $79 million charge to retire 31 DC-10 aircraft, and an adjustment to passenger revenues that raised the earnings by $67 million. Without those one-time items, AMR said its earnings for the period would have been $59 million, or 55 cents per share.

A month ago, American warned it was attracting fewer fliers than expected and would report disappointing earnings. Analysts reduced their estimated per-share earnings from around 70 cents to about 20 or 30 cents.

"While we are pleased to be reporting a small profit, our net margin is wholly inadequate," AMR Chairman Robert Crandall said in a prepared statement. …

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