Delta Air Lines Reports Q4 EPS $0.45 vs $0.38 Est; Revenues $8.4B vs $8.31B Est

Air Lines DAL today reported financial results for the December 2011 quarter. Key points include: Delta's net income for the December 2011 quarter was $379 million, or $0.45 per diluted share, excluding special items(. This is a $221 million improvement year over year. Delta's net income for 2011 was $1.2 billion, excluding special items, as the company offset $3 billion higher fuel expense through strong revenue performance and its fuel hedging program. Delta's GAAP net income was $425 million, or $0.50 per diluted share, for the December 2011 quarter and $854 million for 2011. 2011 results include $264 million in profit sharing expense, including $89 million in the December quarter, recognizing Delta employees' contributions toward meeting the company's operating and financial goals. Delta's adjusted net debt at the end of 2011 was $12.9 billion, a $4.1 billion reduction from 2009.