TODAY'S TOP STORY
By TERRY MAXON / The Dallas Morning News
Southwest Airlines Co. reported the highest annual
earnings in its history in 2007, with its $645 million in net profits beating its previous best of $603 million earned in 2000.
But the Dallas-based carrier needed $9.9 billion in revenues to achieve the record profits in 2007, compared to $5.7 billion in 2000 – underlying how higher expenses are tightening Southwest’s profit margins and making it tougher to keep growing its income.
"While fourth-quarter and full-year results fell short of our earnings goals, I am very proud
of what our employees accomplished during 2007,” Southwest chief executive officer Gary Kelly said.
“Although we were well prepared, 2007 was much more difficult than anticipated due to rising energy prices throughout the year and softer demand for domestic air travel,” he said.
Full story
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| TOMORROW The Entrepreneurs Foundation of North Texas helps smaller companies organize volunteer activities for them. Essentially, it is “an outsourced community development department," says its executive director. Read more in tomorrow's Business section. |
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