Airtran 2009 Annual Report Download - page 108

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99
Note 15 – Quarterly Financial Data (Unaudited)
Summarized quarterly financial data by quarter for 2009 and 2008 is as follows (in thousands, except per share
data):
Three Months Ended
March 31 June 30 September 30 December 31
2009
Operating revenue $ 541,955 $ 603,653 $ 597,402 $ 598,432
Operating income 47,707 66,166 37,033 26,104
Other (income) expense 19,000 (12,984) 26,374 9,281
Income (loss) before income taxes 28,707 79,150 10,659 16,823
N
et income (loss) 28,707 78,438 10,426 17,091
Earnings (loss) per common share:
Basic $ 0.24 $ 0.65 $ 0.09 $ 0.13
Diluted 0.21 0.56 0.08 0.11
Included in operating income (loss):
(Gain) loss on disposition of assets $ 922 $ 2,384 $ (6,379)$ 109
Included in other (income) expense:
Net (gains) losses on derivative
financial instruments $(890) $ (27,335) $ 10,281 $ (12,680)
(Gain) on extinguishment of debt (322)(3,974) 18
—
2008
Operating revenue $ 596,391 $ 693,380 $ 673,292 $ 589,415
O
p
eratin
g
income
(
loss
)
(
35,386
)
(
46,441
)
(
47,413
)
53,419
Other (income) expense 20,235 (28,152)62,002 170,844
Income (loss) before income taxes (55,621)(18,289)(109,415)(117,425)
N
et loss (35,357) (14,830) (94,553) (121,594)
Loss per common share:
Basic $ (0.38) $ (0.14) $ (0.81) $ (1.03)
Diluted (0.38)(0.14)(0.81)(1.03)
Included in operating income (loss):
(Gain) loss on disposition of assets $
—
$ (6,543) $ (9,254) $ (4,218)
Impairment of goodwill
—
8,350
—
—
Included in other (income) expense:
Net (gains) losses on derivative
financial instruments $ 5,190 $ (43,560
)
$ 41,520 $ 147,686
During the three months ended December 31, 2009, we recorded a $2.4 million reduction in advertising expense
to correct overstatements of expense recorded in prior periods.