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Previous: TEMPLETON VARIABLE PRODUCTS SERIES FUND, N-30D, 1998-09-08 |
Next: C-PHONE CORP, S-3/A, 1998-09-08 |
<PAGE> 1
FORM 10-Q/A
(AMENDMENT NO. 1)
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
( X ) QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 1998
OR
( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ______ to ______
Commission file number 0-18653
COMAIR HOLDINGS, INC.
---------------------
Incorporated under the laws of Kentucky 31-1243613
(I.R.S. Employer ID No.)
P.O. Box 75021
Cincinnati, Ohio 45275
(606) 767-2550
Indicate by a check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) or the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.
Yes X No
---- -----
Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.
Class Outstanding At August 11, 1998
----- ------------------------------
Common stock, no par value 66,408,119
PAGE 1
<PAGE> 2
COMAIR HOLDINGS, INC. AND SUBSIDIARIES
--------------------------------------
CONSOLIDATED STATEMENTS OF INCOME
---------------------------------
FOR THE THREE MONTHS ENDED JUNE 30, 1998 AND 1997 (UNAUDITED)
-------------------------------------------------------------
<TABLE>
<CAPTION>
1998 1997
----------- --------
<S> <C> <C>
OPERATING REVENUES:
Passenger $ 178,090,035 $ 152,084,199
Cargo and other 1,279,841 1,111,331
Non-airline operations 8,542,317 5,846,212
------------- -------------
Total operating revenues $ 187,912,193 $ 159,041,742
------------- -------------
OPERATING EXPENSES:
Salaries and related costs $ 33,004,713 $ 26,746,103
Aircraft fuel 12,595,345 13,705,454
Maintenance materials and repairs 13,737,084 11,572,116
Aircraft rent 19,990,275 18,107,620
Other rent and landing fees 5,982,558 5,564,061
Passenger commissions 13,044,261 12,210,359
Other operating expenses 22,562,689 19,952,345
Depreciation and amortization 7,514,956 7,214,273
Non-airline direct costs 5,599,621 3,861,535
------------- -------------
Total operating expenses $ 134,031,502 $ 118,933,866
------------- -------------
Operating income $ 53,880,691 $ 40,107,876
------------- -------------
NONOPERATING INCOME (EXPENSE):
Investment income $ 3,354,467 $ 2,317,407
Interest expense (1,839,532) (1,793,273)
------------- -------------
Total nonoperating income, net $ 1,514,935 $ 524,134
------------- -------------
Income before income taxes $ 55,395,626 $ 40,632,010
Income taxes 21,061,000 15,425,000
------------- -------------
Net income $ 34,334,626 $ 25,207,010
============= =============
Weighted average number
of shares outstanding - Basic (NOTE 3) 66,596,109 66,798,339
============= =============
Net income per share - Basic (NOTE 3) $ .52 $ .38
============= =============
Weighted average number
of shares outstanding - Diluted (NOTE 3) 67,557,224 67,514,232
============= =============
Net income per share - Diluted (NOTE 3) $ .51 $ .37
============= =============
Dividends paid per share $ 0.040 $ 0.040
============= =============
</TABLE>
PAGE 2
<PAGE> 3
COMAIR HOLDINGS, INC. AND SUBSIDIARIES
SIGNATURE
- ---------
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this amendment to this report to be signed on its
behalf by the undersigned thereunto duly authorized.
COMAIR HOLDINGS, INC.
August 28, 1998 BY: /s/ Randy D. Rademacher
---------------------------
Randy D. Rademacher
Senior Vice President Finance
Chief Financial Officer
PAGE 3
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