Westjet 2001 Annual Report Download - page 44

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42
Years ended December 31, 2001 and 2000
(Stated in Thousands of Dollars, Except Per Share Data)
2001 2000
Revenues:
Passenger revenues $ 452,910 $ 315,931
Charter and other 25,483 16,588
478,393 332,519
Expenses:
Passenger services 95,613 64,090
Aircraft fuel 84,629 55,875
Maintenance 72,317 49,512
Amortization 34,332 17,959
Sales and marketing 30,862 21,763
Flight operations 20,916 13,923
General and administration 20,893 12,147
Reservations 17,777 12,497
Aircraft leasing 15,284 6,770
Inflight 16,104 10,972
Employee profit share (note 8(b)) 10,311 13,549
419,038 279,057
Earnings from operations 59,355 53,462
Non-operating income (expense):
Interest income 2,837 2,463
Interest expense (5,086) (2,937)
Gain (loss) on disposal of capital assets 187 (282)
Gain on foreign exchange 986 -
(1,076) (756)
Earnings before income taxes 58,279 52,706
Income taxes (note 7):
Current 15,974 18,102
Future 5,105 4,350
21,079 22,452
Net earnings 37,200 30,254
Retained earnings, beginning of year 55,702 25,448
Retained earnings, end of year $ 92,902 $ 55,702
Earnings per share:
Basic $ 0.81 $ 0.72
Diluted $ 0.79 $ 0.69
See accompanying notes to consolidated financial statements.
CONSOLIDATED STATEMENTS OF EARNINGS AND RETAINED EARNINGS