|
|
Article: Midway Airlines Reports Third Quarter Operating Income Up 41%; Eighth Consecutive Profitable Quarter.
- Article from:
- PR Newswire
- Article date:
- October 30, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
RALEIGH/DURHAM, N.C., Oct. 30 /PRNewswire/ -- Midway Airlines Corporation (Nasdaq: MDWY) (http://www.MidwayAir.com) today reported net income for the third quarter of $5.7 million versus $1.7 million in the 1997 third quarter. The 1998 results include a $3.7 million income tax benefit resulting from a change in the Company's effective tax rate. Excluding the tax benefit, net income of $2.0 million was up 16 percent from the third quarter of 1997. Operating income rose 41 percent to $4.0 million from $2.8 million in 1997's third quarter. The results, with or without the tax benefit, were a record for a third quarter and the Company's eighth consecutive profitable quarter. ...