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SkyWest (SKYW)

SkyWest, Inc. (“SkyWest”) (NASDAQ: SKYW) reported operating revenues of $604.4 million for the quarter ended December 31, 2009, compared to $743.3 million for the same period last year. SkyWest also reported net income of $19.5 million or $0.34 per diluted share, for the quarter ended December 31, 2009, compared to $21.2 million of net income or $0.37 per diluted share, for the same period last year. SkyWest also reported operating revenues of $2.61 billion for the year ended December 31, 2009, compared to $3.50 billion for the year ended December 31, 2008. SkyWest reported net income of $83.7 million or $1.47 per diluted share, for the year ended December 31, 2009, compared to $112.9 million of net income, or $1.93 per diluted share for the year ended December 31, 2008.
Total operating expense and interest per available seat mile (“ASM”) for the fourth quarter of 2009, excluding fuel expense of $59.2 million, or $0.011 per ASM, decreased 6.9% to $0.094 from $0.101 for the comparable quarter of 2008. The decrease is primarily due to the overall reduction in personnel (full-time equivalent basis) by approximately 8.1% for the quarter ended December 31, 2009, compared to the same period last year, while at the same time experiencing an increase in ASM production by approximately 7.5% for the comparable periods. The decrease was also partially attributable to flying more regional jets, with larger seating capacity, that typically generate more ASMs than smaller aircraft flying the same routes. Total operating expense and interest, excluding fuel expense, was $517.9 million for the quarter ended December 31, 2009, compared to $517.1 million for the quarter ended December 31, 2008.

Feb 16 · 12:18:00 PM
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by Steve Wieczorek

SkyWest (SKYW)

United Airlines is to add Minot, North Dakota, to its network with twice daily nonstop service to Denver beginning on June 9 with flights operated by its regional partner, SkyWest Airlines using 50-seat Bombardier CRJs Regional Jets, according to the Shephard Group. “We are delighted to provide travellers in Minot with new, convenient nonstop service to Denver and access to our extensive network throughout the world,” remarked Greg Kaldahl, United’s vice-president of resource planning.
“Minot has had a run of good news when it comes to expanding flights, and the reason is western North Dakota is an economic powerhouse that needs access to frequent and affordable flights that go both east and west,” commented US Senator Byron Dorgan (Democrat, ND), who is chairman of the Aviation Operations, Safety and Security Subcommittee in the Senate. Senator Dorgan was referring to news announced on February 11 that Delta Air Lines is to begin flights to Salt Lake City starting on May 3, also operated by SkyWest.

Feb 16 · 12:08:00 PM
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by Steve Wieczorek

SunPower (SPWRA)

SunPower announced on Friday it will acquire SunRay Renewable Energy, a leading European solar farm developer.
SunPower says its acquisition is consistent with the company's long-term company strategy to develop a strong brand and complements its European engineering, procurement and construction business.

Feb 15 · 7:54:00 PM
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by Michael Oliveto

Navistar International (NAV)

Navistar Financial Corporation, a wholly owned subsidiary of Navistar International Corporation, has sold $250 million of wholesale floor plan notes in a two-year 144-A transaction to support its dealer inventory funding.
This is NFC's first asset sale of calendar-year 2010, and it brings NFC's total wholesale capacity to $1.1 billion when combined with previously issued public and private funding. NFC initially sought $200 million and increased the amount to $250 million due to strong demand.

Feb 15 · 7:33:00 PM · Source: Company Press Release
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by Michael Oliveto

Franklin Electric (FELE)

Franklin Electric has told its 50 remaining employees at the Arkansas plant that their jobs are being eliminated and the plant will shut down.
The 50 workers are what’s left of as many as 800 employed there as recently as 2006.

Feb 15 · 7:16:00 PM · Source: Ft Wayne Journal Gazette
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by Michael Oliveto

Delta Air Lines (DAL)

Delta Air Lines CEO Richard Anderson blasted the U.S Department of Transportation Friday for picking winners and losers in its oversight of airlines, and called for further deregulation of the industry.
The top officer of the world’s largest airline criticized the DOT’s decision earlier this week to approve a takeoff and landing slot swap between the Atlanta-based carrier and US Airways Inc. with conditions that call for the airlines to sell some flying rights to competitors to maintain competition. Delta is the Twin Cities' largest carrier and has significant business operations in Eagan. “Our industry needs to be deregulated and it’s clear the [Department of Justice] had no case to stop this transaction,” Anderson said of the government’s evaluation of the deal on grounds it could be anti-competitive. Instead, he said the Department of Transportation stepped in and “put its thumb on the scale of competition.”

Feb 15 · 7:12:00 PM · Source: Minneapolis St. Paul Business Journal
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by Michael Oliveto

Chicago Rivet & Machine Co. (CVR)

Chicago Rivet & Machine Co. declared a regular quarterly dividend in the amount of $.10 per share payable March 19, 2010 to shareholders of record on March 5, 2010.
At today''s $15.30 stock price the dividend yield is 2.61%.

Feb 15 · 7:09:00 PM
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by Michael Oliveto

Beacon Roofing Supply (BECN)

Beacon Roofing Supply announced that it has acquired Independent Building Materials (“IBM”), a distributor of mostly residential roofing systems and related accessories with one location in Orlando, Florida.
Rick Stiskin, who co-founded IBM with his retiring partner Dennis Booth, will remain IBM’s General Manager and be part Beacon’s regional leadership team. Mr. Stiskin stated, "Dennis and I believe that joining Beacon presents a fantastic opportunity for IBM and our employees. Beacon’s size and reputation in the industry will allow us to better serve our customers and expand our product offering to help grow our business. We could not be more excited about IBM’s future."

Feb 15 · 6:57:00 PM · Source: AZO Building
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by Michael Oliveto

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