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Spirit Airlines Q4 adjusted net income increased to $73.3 million

Staff writer |
Spirit Airlines reported fourth quarter 2015 results. Adjusted net income increased 24.9 percent to $73.3 million, $1.02 per diluted share, compared to the fourth quarter 20141.

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GAAP net income for the fourth quarter 2015 increased 33.1 percent year over year to $74.4 million ($1.04 per diluted share) compared to the fourth quarter 2014.

Adjusted net income for the full year 2015 increased 33.6 percent to $316.2 million ($4.37 per diluted share) compared to the full year 20141. GAAP net income for the full year 2015 increased 40.7 percent year over year to $317.2 million ($4.38 per diluted share).

Adjusted pre-tax margin for the fourth quarter 2015 increased 270 basis points to 22.4 percent1. For the full year 2015, adjusted pre-tax margin increased 420 basis points to 23.4 percent1.

On a GAAP basis, pre-tax margin for the fourth quarter 2015 increased 390 basis points to 22.7 percent and for the full year 2015 increased 520 basis points to 23.5 percent.

Spirit ended 2015 with unrestricted cash and cash equivalents of $803.6 million.

Spirit's return on invested capital (before taxes and excluding special items) for the twelve months ended December 31, 2015 was 28.2 percent2.


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