FILE - In this Tuesday, April 22, 2008, file photo, a Union Pacific train travels through Council Bluffs, Iowa. Union Pacific's fourth-quarter profit chugged ahead 7 percent in 2012 because the railroad raised shipping rates and collected more fuel surcharges. (AP Photo/Nati Harnik, File)
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FILE - In this Tuesday, April 22, 2008, file photo, a Union Pacific train travels through Council Bluffs, Iowa. Union Pacific's fourth-quarter profit chugged ahead 7 percent in 2012 because the railroad raised shipping rates and collected more fuel surcharges. (AP Photo/Nati Harnik, File)
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FILE - The March 13, 2012 file photo shows a man on a scooter, exiting from a gate of Central Bank of Cyprus in Nicosia, Cyprus. When it came to helping out Greece, Ireland and Portugal, Germany grudgingly went along with its European partners and backed hundreds of billions in rescue loans. But now that tiny Cyprus is in trouble, German politicians for the first time appear in no mood to help _ which could put the Mediterranean island country on the path to bankruptcy and out of the eurozone. (AP Photo/Petros Karadjias)
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European Commission President Jose Manuel Barroso, addresses the Nobel Peace Prize media conference, at the Nobel institute in Oslo, Norway, Sunday Dec. 9, 2012. The Nobel Peace Prize Committee awarded the prize to the European Union for its efforts to promote peace and democracy in Europe, despite being in the midst of its biggest crisis since the bloc was created in the 1950s. (AP Photo/Yves Logghe)
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European Council President Herman Van Rompuy, center, European Parliament President Martin Schulz, right, and European Commission President Jose Manuel Barroso, address the Nobel Peace Prize media conference, at the Nobel institute in Oslo, Norway, Sunday Dec. 9, 2012. The Nobel Peace Prize Committee awarded the prize to the European Union for its efforts to promote peace and democracy in Europe, despite being in the midst of its biggest crisis since the bloc was created in the 1950s. (AP Photo/Yves Logghe)
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Chairman of the Norwegian Nobel Committee Torbjorn Jagland addresses the media, during the Nobel Peace Prize media conference, at the Nobel institute in Oslo, Norway, Sunday Dec. 9, 2012. The Nobel Peace Prize Committee awarded the prize to the European Union for its efforts to promote peace and democracy in Europe, despite being in the midst of its biggest crisis since the bloc was created in the 1950s. (AP Photo/Yves Logghe)
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Dockworkers arrive outside the Portuguese parliament in Lisbon Thursday, Nov. 29 2012, during a protest by several European dockworkers unions. In the parliament lawmakers were debating a new law that the worker's claim will lead to the loss of jobs. (AP Photo/Armando Franca)
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A woman begs on a street corner in Barcelona, Spain, Thursday, Nov. 29, 2012. The OECD projected this week that Spain's unemployment rate would reach 27 percent and its economy would contract by 1.4 percent —compared to the 0.5 percent predicted by the Spanish government in 2013. (AP Photo/Manu Fernandez)
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Spain's Economy Minister Luis de Guindos, left, speaks with the media as he arrives for a meeting of eurogroup finance ministers at the EU Council building in Brussels on Monday, Nov. 26, 2012. Eurozone finance ministers are set to meet in Brussels on Monday to discuss the next installment of bailout money for debt-laden Greece. (AP Photo/Virginia Mayo
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European Commissioner for the Economy Olli Rehn arrives for a meeting of eurogroup finance ministers at the EU Council building in Brussels on Monday, Nov. 26, 2012. Eurozone finance ministers are set to meet in Brussels on Monday to discuss the next installment of bailout money for debt-laden Greece. (AP Photo/Virginia Mayo
Hawaiian Airlines loses $3.4M in 4th quarter
HONOLULU (
AP) —
Hawaiian Airlines lost $3.4 million in the fourth quarter after recording nearly $12 million in interest expenses and nearly $9 million in losses on fuel derivatives, the Honolulu company said Tuesday.
The airline's parent, Hawaiian Holdings Inc., said revenue totaled nearly $493 million during the three months that ended Dec. 31.
The loss compared with a profit of $20.9 million in the fourth quarter of 2011.
Hawaiian CEO Mark Dunkerley said the results were disappointing after a year of growth and improving financial results.
"The sharp weakening of the yen, continued excess capacity in certain markets and an accounting charge all worked to depress our earnings for the period despite many other things going right for the business," Dunkerley said.
The loss amounted to 7 cents per share. The airline said it had adjusted net income of about $100,000, which was less than a penny per share.
Analysts polled by FactSet had expected revenue of $503 million and adjusted income of 11 cents per share.
Hawaiian posted a profit of $53.2 million for the full year. That compared with a loss of $2.6 million in 2011.
Shares of Hawaiian were unchanged at $6.54 in afterhours trading Tuesday after holding steady during the day. The stock has had a 52-week high of $7.30.
The airline launched four new routes from Honolulu in 2012: to Fukuoka and Sapporo in Japan, plus Brisbane, Australia and New York. It also announced new service from Honolulu to Taiwan, increased service between Honolulu and Sydney, and increased service between Maui and Los Angeles.
The airline recently announced a planned expansion with 16 new Airbus planes for routes between Hawaii and the U.S. West Coast.
"2013 promises to be an equally exciting year for the company with new destinations, new aircraft and more employees being planned," Dunkerley said.
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Oskar Garcia can be reached at http://twitter.com/oskargarcia .
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