Alaska Air Group reports record adjusted fourth quarter and full-year results

Alaska Air Groupreported fourth quarter 2012 GAAP net income of $44m, compared to GAAP net income of $64m in 2011. Excluding mark-to-market fuel hedge losses of $10m ($6m after tax), the company reported record fourth quarter 2012 net income of $50m, compared to net income excluding mark-to-market fuel hedge gains of $37m in 2011. The company reported full-year 2012 GAAP net income of $316m, compared to $245m in the prior year. Excluding the impact of special items, the company reported record net income of $339m, compared to net income of $287m in 2011. This marks the company’s ninth consecutive year of adjusted profits and the third year in a row the company has exceeded its goal of a 10% return on invested capital.