Alaska Air Group Reports Record Fourth Quarter and Full-Year Results

Alaska Air Group, Inc. ALK today reported record fourth quarter 2010 net income of $64.8 million, or $1.75 per diluted share, compared to net income of $24.1 million, or $0.67 per diluted share, in the fourth quarter of 2009. Excluding mark-to-market fuel hedge gains of $28.1 million ($17.4 million after tax or $0.47 per diluted share), the company reported record net income of $47.4 million, or $1.28 per diluted share, compared to net income of $4.4 million, or $0.12 per share, excluding special items in the fourth quarter of 2009. The company reported full-year 2010 record net income of $251.1 million, compared to $121.6 million in 2009. Excluding the impact of the items noted in the table below, the company reported record net income of $262.6 million, or $7.14 per diluted share for 2010, a $173.9 million improvement from the $88.7 million, or $2.45 per diluted share, in 2009. This marks the company's seventh consecutive year of adjusted profits.