Allegiant reports 17 percent 3Q revenue increase

LAS VEGAS – Allegiant Travel Co. (Nasdaq:ALGT) reported a 17 percent increase in total operating revenue for the third quarter of 2011 compared to the same period in 2010.

The Las Vegas-based company, which operates flights to Las Vegas and Phoenix/Mesa from the Fort Collins-Loveland Airport, reported $191.5 million in total operating revenue for the third quarter of 2011, compared to $163.6 million in 2010.

However, the company reported increases in operating expenses, especially fuel costs, had cut net income from $13.2 million in the same period of 2010 to $9.5 million in the third quarter of 2011 – a 27.9 percent decline.

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The report noted that the quarter was the 35th consecutive profitable quarter for Allegiant.
“Revenues continue to perform nicely,´ said Maurice Gallagher Jr., Allegiant Travel chairman and CEO. “Most of the meaningful revenue metrics during the third quarter increased 15 percent or more year-over-year, another strong performance.”

The company also reported a 1.2 percent increase in passengers for the third quarter, carrying 1,578,645 passengers compared to 1,559,836 in third-quarter 2010.