Republic’s pre-tax income from continuing operations was $22.8m an 18.1% increase over the March 2013 quarter. As of Dec. 31, 2013, Republic had a significant amount of federal net operating loss carryforwards and does not anticipate paying significant federal taxes for the next several years. Republic’s net income for the March 2014 quarter was $14.0m. This is a $13.7m increase from the prior year. The March 2013 quarter was negatively impacted by $11.1m of losses from discontinued operations at Frontier Airlines.