Frontier reports first annual loss in five years DENVER (AP) =97 Denver-based Frontier Airlines reported its first annual= loss=20 in five years Thursday, citing challenges of a weak economy, the war in=20 Iraq and a March blizzard that shut down the Denver area for two days. For= =20 the fourth quarter, the airline reported a net loss of $12.96 million, or=20 44 cents per share, compared to net income of $623,187, or 2 cents per=20 share, in the same period a year ago. Those results included a loss of 8=20 cents per share associated with unrealized losses on financial derivatives,= =20 a write-down of spare parts inventory, and reduced revenue sharing credits= =20 associated with Denver International Airport's anticipated reserve for=20 United Airlines' bad debt. Analysts surveyed by Thomson First Call were=20 expecting a loss of 36 cents per share. For the year, losses were $22.8=20 million, or 77 cents per share, compared to a profit of $16.5 million, or=20 56 cents per share, for the fiscal year prior. The year results were a=20 penny short of analyst expectations. The year-end results included a $2=20 million after-tax credit for the effect of a change in they way the airline= =20 accounted for major aircraft overhauls. Not including the credit, fiscal=20 year losses widened to $24.9 million, or 84 cents per share. Revenues,=20 though, were up in the fourth quarter to $118.5 million from $113.2 million= =20 a year earlier. For the fiscal year, revenues were up to $469.9 million=20 from $445.1 million the year before. Results were announced after markets=20 closed Thursday. *************************************************** The owner of Roger's Trinbago Site/TnTisland.com Roj (Roger James) escape email mailto:ejames@xxxxxxxxx Trinbago site: www.tntisland.com Carib Brass Ctn site www.tntisland.com/caribbeanbrassconnection/ Steel Expressions www.mts.net/~ejames/se/ Mas Site: www.tntisland.com/tntrecords/mas2003/ Site of the Week: http://www.caribbeanfloral.com TnT Webdirectory: http://search.co.tt *********************************************************