MIRAMAR, Fla. (AP) _ Spirit Airlines Inc. (SAVE) on Wednesday reported a second-quarter loss of $144.4 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Miramar, Florida-based company said it had a loss of $1.81. Losses, adjusted for non-recurring gains, came to $3.59 per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of $2.70 per share.
The airline posted revenue of $138.5 million in the period, surpassing Street forecasts. Five analysts surveyed by Zacks expected $118.5 million.
Spirit shares have declined 59% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $16.66, a decline of 68% in the last 12 months.