Alaska Air Group Beats Estimates (ALK)

Alaska Air Group, Inc. ALK released financial results on Tuesday morning that beat Wall Street estimates. Alaska Air Group, Inc announced that its 4th quarter net income rose to $64.8 million, or $1.75 per share, up from $24.1 million, or $0.67 per share, a year earlier. Excluding special items, the company reported earnings of $1.28 per share. Alaska Air Group, Inc reported revenue of $958.5 million, up from $846.1 million a year earlier. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 98 cents per share, on revenue of $941.4 million. Chairman and CEO Bill Ayer said, "We are very pleased to report record fourth-quarter and full-year profits. These results were driven by strong revenue growth, excellent cost management, an on-time operation, and promising new markets. 2010 was a record year in nearly every regard and reflects the efforts of the past decade as much as the last twelve months." Alaska Air Group, Inc. (ALK) finished the previous trading day at $60.76 per share. The consensus price target of analysts covering the company's stock is $66.93 per share. Read more from Benzinga's Company news.