October 30, 2013
Spirit Airlines reports adjusted net income increased 130.3%
Spirit Airlines reported that adjusted net income for the third quarter 2013 increased 130.3% to $57.9m compared to $25.2m for the third quarter 2012. GAAP net income for the third quarter 2013 was $61.1m compared to $30.9m 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%. Spirit ended the third quarter 2013 with $540m in unrestricted cash.