SKYW FY 2012 Earnings Report — SkyWest, Inc. Revenue & Financial Results | Market Cap Arena

SkyWest, Inc.SKYW

FY 2012 Earnings

Reported February 15, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$3.5B	—	$3.7B	—	-3.3%
Op. Income	$166M	—	$41M	—	303.8%
Gross Margin	11.2%	—	7.9%	—	3.3pp
Net Margin	1.4%	—	-0.7%	—	2.2pp
EPS (Diluted)	$0.99	—	$-0.52	—	290.4%
Free Cash Flow	$224M	—	-$24M	—	1030.1%

Revenue Flow

Item	Amount
REVENUE	$3.5B
Cost of Revenue	$3.1B
GROSS PROFIT	$396M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	-$11M
Operating Expenses	$230M
Cost & Expenses	$3.4B
OPERATING INCOME	$166M
Interest Income	$8M
Interest Expense	$77M
Other Income/Expenses	-$80M
INCOME BEFORE TAX	$86M
Income Tax Expense	$35M
Net Income from Continuing Ops	$51M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$51M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$51M
D&A	$252M
EBIT	$163M
EBITDA	$415M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$3.5B
Cost of Revenue	$3.1B
GROSS PROFIT	$396M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	-$11M
Operating Expenses	$230M
Cost & Expenses	$3.4B
OPERATING INCOME	$166M
Interest Income	$8M
Interest Expense	$77M
Other Income/Expenses	-$80M
INCOME BEFORE TAX	$86M
Income Tax Expense	$35M
Net Income from Continuing Ops	$51M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$51M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$51M
D&A	$252M
EBIT	$163M
EBITDA	$415M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$51M
Depreciation & Amortization	$252M
Stock-Based Compensation	$5M
Deferred Income Tax	$35M
Other Non-Cash Items	-$15M
Change in Working Capital	-$39M
OPERATING CASH FLOW	$289M
Capital Expenditure	-$65M
Acquisitions (Net)	$8M
Purchases of Investments	-$736M
Sales/Maturities of Investments	$678M
Other Investing Activities	$7M
NET CASH FROM INVESTING	-$108M
Net Debt Issuance	-$173M
Common Stock Repurchased	-$902.0K
Common Dividends Paid	-$8M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$176M
FREE CASH FLOW	$224M
Net Change in Cash	$4M

Balance Sheet

Item	Amount
Cash & Equivalents	$134M
Short-Term Investments	$556M
Net Receivables	$130M
Inventory	$114M
Other Current Assets	$174M
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$2.7B
Goodwill	$0
Intangible Assets	$17M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$92M
TOTAL NON-CURRENT ASSETS	$2.8B
TOTAL ASSETS	$4.3B
Account Payables	$223M
Short-Term Debt	$171M
Deferred Revenue	$0
Other Current Liabilities	$75M
TOTAL CURRENT LIABILITIES	$591M
Long-Term Debt	$1.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$658M
Other Non-Current Liabilities	$148M
TOTAL NON-CURRENT LIABILITIES	$2.3B
TOTAL LIABILITIES	$2.9B
Common Stock	$610M
Additional Paid-In Capital	$0
Retained Earnings	$1.1B
Treasury Stock	-$371M
Accum. Other Comp. Income	$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.4B
Minority Interest	$0
TOTAL EQUITY	$1.4B
TOTAL LIABILITIES & EQUITY	$4.3B
Total Debt	$1.6B
Net Debt	$1.5B