Airtran 2001 Annual Report Download - page 39

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15.
Quarterly
Financial
Data
(Unaudited)
Summarized quarterly financial
data
for 2001
and
2000
is as follows:
Quarter
First Second Third Fourth
$173,743
$205,763 $150,677
$134,981
17,932
22,485
1,766
(6,474)
9,457
13,195
(10,594)
(14,158)
8,800
13,195
(10,594)
(14,158)
$
0.14
$
0.20
$
(0.15)
$
(0.20)
(0.01)
$
0.13
$
0.20
$
(0.15)
$
(0.20)
$
0.13
$
0.18
$
(0.15)
$
(0.20)
(0.01)
$
0.12
$
0.18
$
(0.15)
$
(0.20)
Quarter
First Second Third Fourth
$132,408 $160,769 $161,459 $169,458
11,838 31,622 17,103 20,588
2,902 22,588 8,891 13,055
$0.04 $0.34 $0.14 $0.20
$0.04 $0.33 $0.13 $0.19
(In
thousands, except
per
share data)
Fiscal 2000
Operating revenues
Operating income
Net income
Basic earnings per share
Diluted earnings per share
Diluted earnings (loss) per share before cumulative effect
of
change in accounting principle
Cumulative effect
of
change in accounting principle
Earnings (loss) per share, basic
Earnings (loss) per share, diluted
Fiscal
2001
Operating revenues
Operating income
Income (loss) before cumulative effect
of
change
in
accounting principle
Net income
Earnings per share:
Basic earnings
Voss)
per
share before cumulative effect
of
change in accounting principle
Cumulative effect
of
change
in
accounting principle
The results
of
the second quarter
of
2001 included acharge for impairmentflease termination
of
$18.1
million. The results
of
the third quarter
of
2001
included the following items:
$28
million charge for impairment; $2.5 million
of
costs
related
to
the events
of
September
11;
$30.3 million government
grant
and
$4.3
million
of
debt
discount amortization
upon
conversion
of
debt. The results
of
the fourth quarter included a$1.3
milUon
reduction in the
government grant as aresult
of
achange
in
the estimated total amount
to
be
received.
During the fourth quarter
of
2001
and
2000, year-end adjustments resulted in increasing loss
or
decreasing income before income taxes
byapproxi-
matety $1.5 million and $1.6 million, respectively, the majority
of
which relates
to
revisions
of
expenses recorded earlier in the respective
year.
During the year, we provide for income taxes using anticipated effective annual tax rates. The rates are
based
on
expected operating results and per-
manent differences between
book
and tax income. Adjustments are
made
each quarter for changes in the anticipated rates used
in
previous quarters.
If
the actual annual effective rates
had
been
used in
each
of
the quarters
of
2001 and 2000, net income
(k:>ss)
for the first through fourth quarters
of
2001 would have been $8.7 million, $11.2 million, $(9.9) million
and
$(12.8) million, respectively, and net income for the first through the fourth quarters
of
2000
would have been
$3.0
million, $23.6 mmion, $9.2 million and $11.6 million, respectively.