Southwest Airlines Reports Q4 EPS $0.09 vs $0.08 Est; Revenues $4.11B vs $4.12B Est

Southwest Airlines Co.

(the "Company") today reported its fourth quarter and full year 2011 results. Fourth quarter 2011 net income was $152 million, or $.20 per diluted share, which included $86 million (net) of favorable special items.This compared to net income of $131 million, or $.18 per diluted share, for fourth quarter 2010, which included favorable special items totaling $16 million (net). Excluding special items, fourth quarter 2011 net income was $66 million, or $.09 per diluted share, compared to net income of $115 million, or $.15 per diluted share, in fourth quarter 2010. This exceeded Thomson's First Call mean estimate of $.08 per diluted share for fourth quarter 2011. Additional information regarding special items is included in this release and in the accompanying reconciliation tables. For the full year 2011, net income was $178 million, or $.23 per diluted share, which included $152 million (net) of unfavorable special items. This compared to $459 million, or $.61 per diluted share, for full year 2010, which included $91 million (net) of unfavorable special items. Excluding special items, full year 2011 net income was $330 million, or $.43 per diluted share, compared to net income of $550 million, or $.74 per diluted share, for full year 2010.