JetBlue Airlines 2005 Annual Report Download - page 71

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Note 15—Quarterly Financial Data (Unaudited)
Quarterly results of operations for the years ended December 31 are summarized below (in
millions, except per share amounts):
First
Quarter Second
Quarter Third
Quarter Fourth
Quarter (1)
2005
Operating revenues .......................... $ 373 $ 429 $ 453 $ 446
Operating income (loss) ...................... 25 40 14 (31)
Net income (loss)............................ 6 13 3 (42)
Basic earnings (loss ) per share................ $ 0.04 $ 0.08 $ 0.02 $(0.25)
Diluted earnings (loss) per share .............. $ 0.04 $ 0.08 $ 0.02 $(0.25)
2004
Operating revenues .......................... $ 289 $ 320 $ 323 $ 333
Operating income ........................... 33 45 22 11
Net income ................................. 15 21 8 2
Basic earnings per share...................... $ 0.10 $ 0.14 $ 0.05 $ 0.01
Diluted earnings per share.................... $ 0.09 $ 0.13 $ 0.05 $ 0.01
(1) During the fourth quarter of 2005, we recorded $7 million in non-cash stock-based compensation
expense related to the acceleration of certain stock options and wrote-off $6 million in
development costs relating to a maintenance and inventory tracking system that will not be
implemented. In 2004, we recorded additional passenger revenue of $3 million to recognize
expired customer credits based on stated terms and recorded other non-recurring charges totaling
$2 million.
The sum of the quarterly earnings per share amounts does not equal the annual amount reported
since per share amounts are computed independently for each quarter and for the full year based on
respective weighted-average common shares outstanding and other dilutive potential common shares.
63