IT\’S WORKING FOR TRANSAT
Transat A.T. Inc. posted revenues of $927.0 million for the quarter ended July 31, 2013, compared with $909.1 million for the same period of 2012 — an increase of $17.9 million or 2.0%. The company recorded a margin before amortization and depreciation1 of $53.1 million, compared with $22.1 million in 2012 and net income of $41.1 million ($1.07 per share on a diluted basis), compared with $9.4 million ($0.25 per share on a diluted basis) in 2012. Before non-operating items, amortization and depreciation, and restructuring charges, Transat reported a margin of $54.4 million, compared with $22.1 million in 2012; and adjusted after-tax income of $30.8 million ($0.80 per share on a diluted basis), compared with $10.5 million ($0.28 per share on a diluted basis) in 2012.
Jean-Marc Eustache, president and CEO of Transat, said: \”We are very satisfied with the results, as this is our best third quarter ever. We performed very well on the transatlantic market, and the implementation of our cost-reduction and margin-improvement program is unfolding as planned. And as the numbers indicate, we are on our way to a profitable year.\”
For more, go to http://www.transat.com .