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Thursday’s report shows that SkyWest Inc.,(NASDAQ:SKYW) fourth quarter profit had taken a pretty bad fall down to 8% to $19.5 million as its sales took a nose dive to more than 18%. The profits for SkyWest’s three month period ending December 31st only added up to 34 cents a share. Almost, but not quite as progressive as the year prior with shares priced a 37 cents. Full-year earnings came to $83.7 million, or $1.47 per share, compared with a profit of $112.9 million, or $1.93 per share, in 2008. Twelve-month revenue came to $2.61 billion, compared to $3.50 billion in 2008.
The airline industry has taken a lot of blows due to a weak demand for air travel and by fuel prices skyrocketing back up. Demand has picked up in recent months, but a full rebound is not in the near future forecast.
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