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Spirit: 1Q Earnings Snapshot

MIRAMAR, Fla. (AP) _ Spirit Airlines Inc. (SAVE) on Wednesday reported first-quarter net income of $56.1 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Miramar, Florida-based company said it had net income of 82 cents. Earnings, adjusted for non-recurring costs, came to 84 cents per share.

The results met Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was also for earnings of 84 cents per share.

The airline posted revenue of $855.8 million in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $856.1 million.

Spirit shares have climbed almost 1 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $58.30, a rise of 52 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SAVE at https://www.zacks.com/ap/SAVE