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Spirit Airlines posts USD 57.9m of 3Q13 net income

Florida-based low-cost carrier Spirit Airlines Inc (NASDAQ: SAVE) said that its adjusted net income for 3Q13 increased 130.3% to USD 57.9m (USD 0.79 per diluted share) compared to USD 25.2m (USD 0.35 per diluted share) for the third quarter 2012.

The carrier said its GAAP net income for the third quarter 2013 was USD 61.1m (USD 0.84 per diluted share) compared to USD 30.9m (USD 0.43 per diluted share) in the third quarter 2012.

Spirit achieved an adjusted pre-tax margin of 20.3%, the highest quarterly adjusted pre-tax margin in the company´s history. On a GAAP basis, pre-tax margin for the third quarter 2013 was 21.4%.

The carrier said it ended the third quarter 2013 with USD 540m in unrestricted cash.

Spirit´s return on invested capital (before taxes and excluding special items) for the last twelve months ended September 30, 2013 was 31.3%.

The carrier´s all-Airbus fleet currently operates approximately 250 daily flights to over 50 destinations in the US, Latin America and the Caribbean.

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