Southwest Airlines reports full year net income of $805m

Southwest Airlines posted fourth quarter net income, excluding special items, of $236m compared to fourth quarter 2012 net income, excluding special items, of $65m. This exceeded the First Call consensus estimate of $.29 per diluted share. Fourth quarter net income was $212m which included $24m (net) of unfavorable special items, compared to net income of $78m in fourth quarter 2012, which included $13m (net) of favorable special items. For the full year net income, excluding special items, was $805 million compared to full year 2012 net income, excluding special items, of $417m. Full year net income of $754m, which included $51m (net) of unfavorable special items, compared to net income of $421m in full year 2012, which included $4m (net) of favorable special items.