Business Services Industry
Continental Airlines Beats Earnings Expectations for First Quarter.
Knight Ridder/Tribune Business News, April, 1999 by Goldberg, Laura
Knight Ridder/Tribune Business News
Apr. 16 -- Continental Airlines reported a small decline in first-quarter earnings Thursday, but still beat Wall Street's expectations by a dime as it announced an increase in its stock buyback program.
Excluding a one-time gain and a one-time charge, Continental's net income was $78 million, or $1.03 per fully diluted share and $1.13 per basic share.
That compares with the first quarter of 1998 -- when there were no one-time charges or gains -- when the airline earned $81 million in net income, or $1.06 per fully diluted share and $1.38 per basic share.
The average estimate of analysts polled by First Call Corp. was that Continental would earn an average of 93 cents per fully diluted share....
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