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North American Palladium Ltd. Message Board

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  • PapaScrubs PapaScrubs Feb 14, 2008 4:55 PM Flag

    Back in - 5.99 not bad.

    Here it is- SOme people only saw the headlines and shorted it- PAL misses earnings and suffers 3rd quarter losses.... If they read further this is the eroneous report that was released- Some traders like to react quicker than the guy next door so they act on headlines only.

    Feb. 15--PHILIPPINE Airlines (PAL) said it suffered a net loss for the third quarter ending December on the back of higher jet fuel and manpower costs.
    The country's flag carrier said in a statement that it registered a net loss of $11.3 million in the three-month period. Despite this, the airline recorded a profit of $11.5 million in the first nine months of its 2007 fiscal year.
    "The loss, which contrasted with the net income of $79.5 million in the same period in 2006, was due primarily to the absence this time of some major one-time gains that boosted the airline's revenues the previous year," PAL said.
    The Lucio Tan-controlled carrier earned $15.3 million in operating income in the third quarter, six percent higher than the $13.2 million in the same period in 2006.
    For the nine-month period, operating income amounted to $86.7 million surpassing the $51.9 million earned in 2006 by more than 67 percent.
    Its revenues for the third quarter last year reached $371.8 million, lower than the $391.4 million in 2006.The company's expenses increased by 23 percent to $383 million owing to higher fuel, manpower and lease costs.
    PAL's fuel expense alone rose to $121.5 million for the third quarter as a result of the increase in the average oil price from $79.19 a barrel in 2006 to $92.83 a barrel last year.
    In the first nine months, revenues rose 6.2 percent to $1.1 billion owing to higher net yields per revenue passenger kilometer, while expenses, which increased by 15 percent to $944.7 million, were again swelled by higher fuel, maintenance and servicing costs.
    PAL Holdings owns about 84.7 percent of the flag carrier. The holding company earlier acquired six other holding firms that collectively own 81.57 percent of PAL. Separately, PAL Holdings also owns 3.1 percent of the airline through a subsidiary, PR Holdings, Inc.
    To see more of The Manila Times, or to subscribe to the newspaper, go to
    Copyright (c) 2008, The Manila Times, Philippines
    Distributed by McClatchy-Tribune Information Services. For reprints, email, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
    News Provided by Acquire Media Corporation

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