SkyWest Swings To Q4 Profit

(RTTNews) - Shares of SkyWest, Inc. (SKYW) slipped over 6% in extended trading session on Thursday after the company reported its fourth-quarter results.

SkyWest reported fourth-quarter net income of $4 million or $0.09 per share, compared to a net loss of $46 million or $0.93 loss per share last year.

Revenues for the fourth quarter surged 32% to $777.2 million from $589.6 million last year, as SkyWest's fourth-quarter block hours on completed flights were up 30% from last year.

Analysts polled by Thomson Reuters expected a loss of $0.01 per share on revenues of $726.35 million for the quarter. Analysts' estimates typically exclude special items.

SKYW closed Thursday's trading at $37.96, down $0.81 or 2.09%, on the Nasdaq. The stock further dropped $2.46 or 6.48% in the after-hours trading.