JetBlue Airlines 2006 Annual Report Download - page 74

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Note 14—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 (2)
2006 (1)
Operating revenues .......................... $ 490 $ 612 $ 628 $ 633
Operating income (loss) ...................... (25) 47 41 64
Net income (loss)............................ (32) 14 — 17
Basic earnings (loss) per share ................ $ (0.18) $ 0.08 $ — $ 0.10
Diluted earnings (loss) per share .............. $ (0.18) $ 0.08 $ — $ 0.10
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)
(1) During the third and fourth quarters of 2006, we sold five Airbus A320 aircraft, which resulted in
a gain of $7 million and $5 million, respectively.
(2) 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 related to a maintenance and inventory tracking system that was not
implemented.
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.
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