Regional airline company SkyWest Inc., based in St. George, reported net income of $42.9 million, or 68 cents per share, for the quarter ended Sept. 30. That compares with $40.7 million, or 63 cents per share, for the third quarter of 2006.
Operating revenues totaled $875.6 million, up from $791.8 million. The increase was due to more available seat miles and by increased fuel cost reimbursements by major partners.
The company said it had stock-based compensation expense of about $2.9 million ($1.8 million after tax) for the quarter.SkyWest Airlines, based in St. George, and Atlantic Southeast Airlines Inc., based in Atlanta, are the company's wholly owned subsidiaries. Systemwide, SkyWest serves 236 cities in the United States, Canada, Mexico and the Caribbean with 2,664 daily flights.
Cephalon Inc. reported a loss in the third quarter as the company set aside funds for a $425 million settlement with U.S. and state investigators and sales slowed for its pain drug.
The net loss was $306.8 million, or $4.58 a share, compared with net income of $95.7 million, or $1.43, a year earlier, the company, based in Frazer, Penn., said in an e-mailed statement. Revenue fell to $438.4 million from $482.3 million.Cephalon reached an agreement "in principle" Thursday with the U.S. Attorney's Office in Philadelphia and the U.S. Department of Justice to settle an investigation into the company's sales and marketing practices, the company said in the statement. Cephalon said it expects to pay $425 million to settle federal and state Medicaid claims.
Clear Channel Communications Inc., the radio company being acquired by private equity firms, said third- quarter profit gained 51 percent as billboard and airport advertising sales rose more than analysts estimated.Net income rose to $279.7 million, or 56 cents a share, from $185.9 million, or 38 cents, a year earlier, the San Antonio- based company said Thursday in a statement. Sales rose 5.3 percent to $1.73 billion.
FX Energy Inc., based in Salt Lake City, reported net income of $166,000, or break-even per share, for the quarter ended Sept. 30. That compares with a net loss of $1.7 million, or 5 cents per share, for the same quarter last year.
Revenues totaled $5.2 million, up from $1.8 million. Oil and gas sales totaled $4 million, up from $1.4 million. Oilfield services revenue climbed from $431,000 to $1.2 million.
FX Energy is an independent oil and gas exploration and production company, with exploration activity focused on Poland.