Southwest Airlines reports second quarter earnings

Southwest Airlines reported its second quarter 2008 results. Net income for second quarter 2008 was $321 million compared to $278 million for second quarter 2007. Excluding special items, second quarter 2008 net income was $121 million compared to $195 million for second quarter 2007. The second quarter 2008 results exceed First Call’s mean estimate of $.12 per diluted share.