US Airways 2004 Annual Report Download - page 71

Table of Contents
AMERICA WEST HOLDINGS CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — CONTINUED
Summarized quarterly financial data for 2004 and 2003 follows (in thousands of dollars except per share amounts):
1st Quarter 2nd Quarter
(as previously (as previously
(as restated) reported) (as restated) reported)
2004
Operating revenues $ 576,544 $ 576,544 $ 605,074 $ 605,074
Operating income 14,685(1) 17,828 16,330(3) 20,848
Nonoperating expenses, net (16,248)(1) (2) (16,652) (5,669)(3) (4) (15,154)
Income tax expense — — — —
Net income (loss) (1,563)(2) 1,176 10,661(4) 5,694
Net income (loss) per share:
Basic (0.04) 0.03 0.30 0.16
Diluted (0.03) 0.02 0.20 0.11
3rd Quarter 4th Quarter
(as previously (as previously
(as restated) reported) (as restated) reported)
2004
Operating revenues $ 578,623 $ 578,623 $ 578,716 $ 578,716
Operating loss (36,038)(5) (28,237) (38,748)(7) (23,681)
Nonoperating income (expenses), net 7,373(5) (6) (18,830) (30,678)(7) (8) (26,001)
Income tax expense — — 30 30
Net loss (28,665)(6) (47,067) (69,456)(8) (49,712)
Net loss per share:
Basic (0.79) (1.30) (1.92) (1.38)
Diluted (0.79) (1.30) (1.92) (1.38)
1st Quarter 2nd Quarter
(as previously (as previously
(as restated) reported) (as restated) reported)
2003
Operating revenues $ 523,233 $ 523,233 $ 575,771 $ 575,771
Operating income (loss) (56,376)(9) (46,140) 16,447(11) 16,305
Nonoperating income (expenses), net (7,045)(9) (10) (15,878) 62,425(11) (12) 63,379
Income tax expense — — — —
Net income (loss) (63,421)(10) (62,018) 78,872(12) 79,684
Net income (loss) per share:
Basic (1.88) (1.84) 2.34 2.36
Diluted (1.88) (1.84) 2.00 2.02
3rd Quarter 4th Quarter
(as previously (as previously
(as restated) reported) (as restated) reported)
2003
Operating revenues $ 592,302 $ 592,302 $ 563,191 $ 563,191
Operating income 50,268(13) 50,135 11,796(15) 12,581
Nonoperating expenses, net (18,678)(13) (14) (17,193) (1,303)(15) (16) (5,655)
Income tax expense — — (114) (114)
Net income 31,590(14) 32,942 10,379(16) 6,812
Net income per share:
Basic 0.90 0.94 0.29 0.19
Diluted 0.53 0.60 0.19 0.13
(1) Reflects reclassification of $3.1 million net credit from "Aircraft Fuel" expense to "Gain (Loss) on Derivative Instruments, Net."
(2) Reflects the restatement of $2.7 million net expense to eliminate hedge accounting for the period presented.
(3) Reflects reclassification of $4.5 million net credit from "Aircraft Fuel" expense to "Gain (Loss) on Derivative Instruments, Net."
(4) Reflects the restatement of $5.0 million net credit to eliminate hedge accounting for the period presented.
(5) Reflects reclassification of $7.8 million net credit from "Aircraft Fuel" expense to "Gain (Loss) on Derivative Instruments, Net."
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