Goodrich to increase Share Repurchase Plan by $300 million in common stock

The Board of Directors of Goodrich Corporation approved an increase to the company’s existing Share Repurchase Plan to authorize the repurchase of up to an additional $300 million of the company’s common stock, bringing the total authorization to $600 million. Since the initial $300 million authorization was approved in October 2006, the company has repurchased 3.9 million shares for a total of $227 million, through January 31, 2008. The primary purpose of this plan is to offset dilution to existing shareholders from the company’s stock-based compensation plans.

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Pinnacle Airlines reports fourth quarter 2007 financial results

Pinnacle Airlines reported fourth quarter 2007 net income of $6.7 million excluding a potential one-time, non-cash charge that the Company is analyzing. The Company’s net income were $12.3 million for the fourth quarter of 2006, excluding nonrecurring items. The 2007 financial results reflect the contractual changes in the airline services agreement (the “ASA”) between the Company’s wholly owned subsidiary, Pinnacle Airlines, Inc. (“Pinnacle”), and Northwest Airlines, Inc. (“Northwest”) that became effective January 1, 2007, and include the financial results of Colgan Air, Inc. (“Colgan”), the airline acquired by the Company in January 2007

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ExelTech releases third quarter results

ExelTech Aerospace a leading aircraft maintenance, repair and overhaul (“MRO”) provider with operations in Montreal and Quebec City, reported its financial results for the third fiscal quarter, which ended December 31, 2007. (All amounts are in Canadian dollars). Revenues for the quarter ended December 31, 2007 totalled $14.6 million compared to $14.0 million for the quarter ended December 31, 2006, an increase of 4%. This increase was driven by continued growth in the Company

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Genesis Lease reports fourth quarter and year end 2007 results

Genesis Lease Limited announced its financial results for the fourth quarter and year ended December 31, 2007. For the quarter ended December 31, 2007, rental revenues were $54.9 million, compared to $41.6 million for the same period in 2006, an increase of 31.8%. Net income was $6.4 million, compared to $7.0 million for the same period last year, a decrease of 9.2%. Net income for the quarter includes a charge of $2.9 million ($3.3 million before tax) relating to a proposed transaction that is unlikely to proceed. Excluding this charge, net income increased by 32.2% quarter over quarter. Results for Read more

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PAL posts quarterly loss of $11.3 million

Philippine Airlines incurred a loss of $11.3 million for October-to-December 2007, but still emerged with a profit of $11.5 million for the first nine months of its 2007-2008 fiscal year. The loss contrasted with net income of $79.5 million in the same period in 2006 The flag carrier earned $15.3 million in operating income in October-to-December 2007

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AAR reports $25 million over-allotment option exercised by initial purchasers of convertible notes

AAR CORP. released that the initial purchasers of the convertible senior notes issued on February 11, 2008 (the “Notes”) have exercised in full their over-allotment option to purchase an additional $25 million in aggregate principal amount of Notes. The additional Notes will be allocated evenly between the two tranches of Notes, resulting in a total of $137.5 million aggregate principal amount of 1.625% convertible senior notes due 2014 and $112.5 million aggregate principal amount of 2.25% convertible senior notes due 2016. The Company expects to complete the sale of the additional Notes on February 19, 2008.

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Astronics Corporation reports 2007 full year net income of $15.4 million

Astronics Corporation reported 2007 full year sales increased 42.9% to $158.2 million from $110.8 million in 2006. Fourth quarter sales increased by 25.4% to $36.3 million from $28.9 million in the fourth quarter of 2006. Net income for 2007 was $15.4 million compared with net income of $5.7 million in 2006. For the fourth quarter of 2007, net income was $2.1 million compared with $0.8 million for the same period the prior year. Outlook Backlog at December 31, 2007 was $92.4 million of which approximately $80 million is scheduled for shipment in 2008. Astronics expects 2008 revenue will rise to Read more

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Mesa Air Group reports first quarter 2008 revenues and earnings

Mesa Air Group reported first quarter after tax losses of $2.8 million from continuing operations on operating revenues of $326.6 million. Total operating revenues for the first quarter of 2008 decreased $6.9 million, or 2.1% primarily as a result of a year-over-year decrease in aircraft in service. The net loss of $2.8 million compares to net income from continuing operations of $8.9 million for the same period of fiscal 2007. Pro forma net loss for the quarter was $0.1 million or break even on a per share basis. The pro forma net loss for the quarter includes adjustments for the Read more

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WestJet reports net earnings of $193 million for full year 2007

WestJet reported record fourth quarter and full-year 2007 results. The airline’s quarterly net earnings increased to $75.4 million from $26.7 million in the same period last year. These results included a one-time favourable adjustment of $33.7 million due to corporate income tax rate reductions enacted by the federal government in the quarter. Excluding the one-time adjustment, fourth quarter net earnings were a record $41.7 million, an increase of 56.3% when compared to the previous year. For the full-year 2007, net earnings were $192.8 million, a 68.2% increase compared to $114.7 million in 2006. Excluding the favourable tax adjustment and the Read more

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AAR completes $225 million private placement of convertible notes

AAR CORP. reported the completion of a private placement of $125 million aggregate principal amount of 1.625% convertible senior notes due 2014 and $100 million aggregate principal amount of 2.25% convertible senior notes due 2016 (together, the “Notes”) in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Company intends to use $125.0 million of the net proceeds of the offering to repay short-term indebtedness under its revolving credit facility, $26.6 million of the net proceeds to pay the net cost of the convertible note hedge Read more

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