Low-cost carrier JetBlue Airways Corp. reported its first third-quarter profit in two years as it added planes and packed them fuller with passengers.
But the airline also said it will pull out of two cities, and it reduced guidance for the remainder of the year.
"JetBlue appears to be guiding down on (unit revenue), never a healthy signal from an airline uniquely dependent on domestic operations," wrote JP Morgan Chase & Co. analyst Jamie Baker in a research note.
JetBlue's profit for the three months ended Sept. 30 rose to $23 million, or 12 cents per share. One year ago, JetBlue lost $500,000, breaking even on a per-share basis.
Revenue increased to $765 million from $628 million a year ago. Plane occupancy grew 1.6 percentage points over the year-earlier period to 82 percent, while capacity jumped 10.9 percent.
United Parcel Service
United Parcel Service Inc., the world's biggest package-delivery company, said third-quarter earnings rose 3.7 percent, helped by an increase in international shipments.
Net income climbed to $1.08 billion, or $1.02 a share, from $1.04 billion, or 96 cents, a year earlier, the Atlanta-based company said today. Sales increased 4.7 percent to $12.2 billion.
UPS has been relying on global expansion as the U.S. economy weakened, and shipments between countries rose 9.3 percent. Average daily U.S. package deliveries increased nearly 1 percent, the first such increase this year. The company said slowing retail sales this quarter will damp that growth.
The shipper "expects fourth-quarter improvement in the freight environment, but retail spending remains a worry," Jim Corridore, a New York-based Standard & Poor's analyst said in a report to investors. "We think UPS is operating well in a tough environment."
Utah Medical Products Inc., based in Salt Lake City, reported net income of $2 million, or 51 cents per share, for the third quarter ended Sept. 30. That compares with $2 million, or 50 cents per share, for the 2006 third quarter.
Sales totaled $7.1 million, up from $7 million in the prior-year quarter.
The company develops, manufactures, assembles and markets disposable and reusable specialty medical devices.