Fuente : Mesa Air Group
http://www.mesa-air.com/

Mesa Air Group Reports 3rd Quarter 2005 Earnings

/noticias.info/ PHOENIX, July 27, 2005 - Mesa Air Group, Inc. (NASDAQ-MESA) today announced 3rd quarter after tax earnings of $17.1 million on revenues of $298.6 million. Total operating revenues for the third quarter of 2005 increased $59.0 million, or 24.6%, primarily the result of year-over-year increases to our jet fleet. Net income and earnings per share for the 3rd quarter were $17.1 million and 40 cents per share on a diluted basis (all amounts reported herein are after tax and all per share amounts reported hereafter are on a diluted basis), respectively, as compared to net income of $9.7 million or 23 cents per share for the same period of fiscal 2004. Pro forma net income for the quarter was $16.5 million, or 39 cents per share. Pro forma net income excluded net investment gains of $0.7 million. This compares to pro forma earnings of $10.8 million, or 25 cents per share for the comparable period of fiscal 2004.

Total Available Seat Miles (ASMs) for the third quarter of 2005 increased 21.9% from the third quarter of 2004, primarily as a result of an increase in the number of regional jets flown from 124 jets as of June 30, 2004 to 142 as of June 30, 2005. During the quarter, the Company took delivery of five 86-seat CRJ-900s for our America West Express operations. At June 30, 2005, Mesa's fleet of regional jets was comprised of 92 50-seat regional jets, 15 70-seat regional jets and 35 86-seat regional jets (53 America West, 30 United and 59 US Airways). The Company is contractually committed to delivering to America West three 86-seat regional jets, two during the remainder of fiscal 2005 and the third in the first quarter of fiscal 2006. In addition to its regional jet fleet, Mesa operates 40 turboprops, including 16 37-seat DH8-200s (6 America West and 10 United) and 24 B1900s (9 Mesa and 15 US Airways).

As of June 30, 2005, the Company's cash, marketable securities and debt investments were approximately $258.3 million, which includes $10.1 million of restricted cash.

"In spite of the difficult industry environment, we are pleased to have generated these results," said Jonathan Ornstein, Mesa's Chairman and CEO. "Our earnings demonstrate the success of our business model and reflect the commitment of our employees and the continued support of our airline partners. Furthermore, given the Company's strong financial results and future prospects, we continue to believe our current share price represents a compelling value and we remained active with our share repurchase program, repurchasing over 1.1 million shares during the quarter."

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