DENVER (AP) -- Frontier Airlines Inc.'s loss narrowed in the fourth quarter from a year ago as the carrier filled more seats on its planes.
In a report late Thursday, Frontier said it lost $3.7 million, or 10 cents a share, in the three months ended March 31 compared with a loss of $5.8 million, or 16 cents a share, a year earlier. Results for the latest quarter reflect gains from fuel derivatives and the sale of spare parts and inventory that narrowed the loss by 5 cents per share.
Analysts surveyed by Thomson Financial were expecting a loss of 21 cents per share.
Revenue rose to $218.5 million from $172.1 million a year earlier.
The discount carrier expects to see a similar loss in the first quarter of fiscal 2006, excluding items, because of the high cost of fuel and an April blizzard that led to the cancellation of nearly a day's worth of flights to and from Denver International Airport, Frontier's hub. Analysts are expecting a loss of 8 cents per share.
Frontier shares fell 14 cents, or 1.1 percent, to $12.09 in midday trading on the Nasdaq Stock Market. Its shares are still near the high end of their 52-week range of $6.71 to $13.08.
For the fourth quarter, Frontier's load factor, or percentage of seats filled, rose to 73.6 percent from 70.1 percent a year earlier. Passenger revenue per available seat mile increased 4.8 percent to 8.46 cents.
The loss for the fiscal year ended March 31 was $23.4 million, or 66 cents a share, compared with a year-ago profit of $12.6 million, or 36 cents per share. Revenue rose to $833.6 million from $634.7 million.
Frontier and its Frontier JetExpress affilate provide service from Denver to 45 destinations in 25 states from coast-to-coast and to five cities in Mexico.
