Hawaiian Holdings (HA) has reported 28.28 percent fall in profit for the quarter ended Mar. 31, 2017. The company has earned $36.91 million, or $0.68 a share in the quarter, compared with $51.47 million, or $0.95 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $55.98 million, or $1.04 a share compared with $43.03 million or $0.80 a share, a year ago. Revenue during the quarter grew 11.43 percent to $614.18 million from $551.18 million in the previous year period. Gross margin for the quarter contracted 338 basis points over the previous year period to 58.01 percent. Total expenses were 89.04 percent of quarterly revenues, up from 82.41 percent for the same period last year. That has resulted in a contraction of 663 basis points in operating margin to 10.96 percent.
Operating income for the quarter was $67.29 million, compared with $96.95 million in the previous year period.
“The year has started extremely well," said Mark Dunkerley, Hawaiian Airlines president and chief executive officer. "Strong demand coupled with benign industry capacity growth in our geographies have given us a robust operating environment sufficient to more than offset the impact of the rising price of fuel. Beyond the financial numbers, the company continues to perform well thanks to the hard work of my 6,500 colleagues. We are looking forward to the months ahead."
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