Spirit posts 4Q profit, results top Street expectations

MarketsAssociated Press

Spirit Airlines Inc. (SAVE) on Tuesday reported fourth-quarter net income of $55.9 million.

The Miramar, Florida-based company said it had profit of 76 cents per share. Earnings, adjusted for non-recurring costs, came to 80 cents per share.

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The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.

The airline posted revenue of $474.5 million in the period, also surpassing Street forecasts. Analysts expected $473.6 million, according to Zacks.

For the year, the company reported profit of $225.5 million, or $3.08 per share. Revenue was reported as $1.93 billion.

Spirit shares have risen nearly 1 percent since the beginning of the year. The stock has climbed 65 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SAVE at http://www.zacks.com/ap/SAVE

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Keywords: Spirit, Earnings Report