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Net income for the quarter was $55.5 million, or $1.38 per share, up from $17.4 million, or 56 cents per share last year. Revenue for the quarter was $873 million, up from $765.5 million last year. Excluding certain items, such as a charge related to a ratified flight attendants' contract, the company would have earned $60.3 million, or $1.50 per share, up from a comparable $24.7 million, or 78 cents per share, last year.
Analysts polled by Thomson Financial expected the company to report, on average, earnings of $1.29 per share on $854.5 million in revenue.
"We are extremely pleased with this quarter's earnings, which were the result of a combination of revenue gains and cost improvements," said Bill Ayer, chairman and chief executive officer.
Alaska Air Group, Inc., (ALK) was up (0.84) in mid morning trading to 36.74 a share.
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