Republic takes quarterly loss but beats analyst estimates

Back to TopCommentsE-mailPrintBookmark and Share

Republic Airways Holdings Inc. suffered a loss in its fourth quarter as its Frontier Airlines business continued to lose money and its contract business with other airlines remained slower than in 2009.

But the performance of the Indianapolis-based airline easily topped expectations of Wall Street analysts.

Republic lost $1.3 million, or 3 cents per share, in the three months ended Dec. 31, compared with a profit in the same quarter of 2009 of $20.1 million, or 55 cents per share, the company announced Tuesday evening.

However, Republic recorded several special charges in both quarters—including accounting charges in 2009 from its acquisition of Frontier and Midwest airlines, as well as expenses as it retires older planes and enters leases on new ones.

Excluding such charges, Republic would have earned $7.4 million in the fourth quarter, or 18 cents per share, a 252-percent increase from the same quarter the prior year.

On that basis, analysts expected Republic to earn profit of 6 cents to 9 cents per share, according to a survey by Thomson Reuters.

Republic revenue in the fourth quarter rose 2 percent, to $649.8 million. Analysts expected less than $642 million.

For all of 2010, Republic’s performance weakened. It suffered a loss of $13.8 million, compared with a 2009 profit of $39.7 million. Excluding special charges and gains, Republic recorded a 2010 profit of $32.3 million, or 90 cents per share, down from a $35 million gain, or 98 cents per share, the prior year.

Revenue for the year surged 61 percent over 2009—reflecting Republic's acquisitions—to $2.65 billion.

In November, Republic raised $88.5 million by selling 12 million extra shares of common stock, using the money to buy new aircraft and pay down its substantial debt. Since then, Republic’s shares have lost 30 percent of their value.

The shares closed Tuesday at $6.34 apiece—before Republic announced its earnings. The price fell another 3.5 percent Wednesday morning, to $6.11.


Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
Subscribe to IBJ
  1. Of what value is selling alcoholic beverages to State Fair patrons when there are many families with children attending. Is this the message we want to give children attending and participating in the Fair, another venue with alooholic consumption onsite. Is this to promote beer and wine production in the state which are great for the breweries and wineries, but where does this end up 10-15 years from now, lots more drinkers for the alcoholic contents. If these drinks are so important, why not remove the alcohol content and the flavor and drink itself similar to soft drinks would be the novelty, not the alcoholic content and its affects on the drinker. There is no social or material benefit from drinking alcoholic beverages, mostly people want to get slightly or highly drunk.

  2. I did;nt know anyone in Indiana could count- WHY did they NOT SAY just HOW this would be enforced? Because it WON;T! NOW- with that said- BIG BROTHER is ALIVE in this Article-why take any comment if it won't appease YOU PEOPLE- that's NOT American- with EVERYTHING you indicated is NOT said-I can see WHY it say's o Comments- YOU are COMMIES- BIG BROTHER and most likely- voted for Obama!

  3. In Europe there are schools for hairdressing but you don't get a license afterwards but you are required to assist in turkey and Italy its 7 years in japan it's 10 years England 2 so these people who assist know how to do hair their not just anybody and if your an owner and you hire someone with no experience then ur an idiot I've known stylist from different countries with no license but they are professional clean and safe they have no license but they have experience a license doesn't mean anything look at all the bad hairdressers in the world that have fried peoples hair okay but they have a license doesn't make them a professional at their job I think they should get rid of it because stateboard robs stylist and owners and they fine you for the dumbest f***ing things oh ur license isn't displayed 100$ oh ur wearing open toe shoes fine, oh there's ONE HAIR IN UR BRUSH that's a fine it's like really? So I think they need to go or ease up on their regulations because their too strict

  4. Exciting times in Carmel.

  5. Twenty years ago when we moved to Indy I was a stay at home mom and knew not very many people.WIBC was my family and friends for the most part. It was informative, civil, and humerous with Dave the KING. Terri, Jeff, Stever, Big Joe, Matt, Pat and Crumie. I loved them all, and they seemed to love each other. I didn't mind Greg Garrison, but I was not a Rush fan. NOW I can't stand Chicks and all their giggly opinions. Tony Katz is to abrasive that early in the morning(or really any time). I will tune in on Saturday morning for the usual fun and priceless information from Pat and Crumie, mornings it will be 90.1