Question-and-Answer Session
Operator
Thank you. (Operator Instructions) Your first question comes from Bob McAdoo - Avondale Partners LLC.
Bob McAdoo - Avondale Partners LLC
You talk about what Continental’s likely to do or what you think is going to be your scheduled revenue going forward. If we go look at what Continental has published in their schedule or what they have on their website for this quarter and first quarter of next year, and we kind of look at that, I assume that schedule is pretty much fixed by now. Where is that going to turn out to be relative to the 8.6 hours a day that you got in the most recent quarter? Is it going to be up a little, down a little? What do you think is the likely utilization over the next six months?
James B. Ream
It’s very much about the same, Bob. I mean there’s obviously going to be a couple of months in there where it’ll be a little bit higher, but on balance when you factor in a couple of weaker months. It’s not going to change a lot from that 8.5 hour range for the next six months when you kind of look at those two quarters.
Bob McAdoo - Avondale Partners LLC
You made a comment about charters and saying something that you know was kind of like similar to what we had earlier in the year. Do advance bookings for charter then look better than fourth quarter last year? I mean at least kind of where they are now? How should we be thinking about that?
James B. Ream
Yes, it is a little bit better than where we were last year. You know the first part of the year, when you kind of look at really the second quarter back in that United we were sort of in that 30% growth range. In the third quarter we had kind of dropped into kind of a 10% growth and we think when we look at the fourth quarter and what we’ve got on the docket for the first part of next year, you’re kind of moving back up into that 30% range. So you know it’s still fairly steady growth and you know fairly happy with how that’s progressing.
Bob McAdoo - Avondale Partners LLC
When I look at the items below the operating income line, there’s a $966,000 charge on extinguishment of debt and $108,000 in impairment. I assume the impairment, that’s the further write down on some of the auction rate securities?
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