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02-17-2011, 11:39 AM
NEW YORK (MarketWatch) -- Shares of Pinnacle Airlines Corp. declined as much as 6% Thursday after the regional carrier posted a smaller-than-expected profit. For the fourth quarter, the Memphis, Tenn.-based company said it swung to a loss of $4.3 million, or 23 cents a share, versus a year-ago profit of $5.6 million, or 31 cents a share. Excluding a $10.9 million one-time tax charge related to a tentative labor agreement with its pilots, Pinnacle said it would have earned 14 cents a share. Analysts polled by FactSet Research were expecting a profit of 15 cents a share, on average. Shares of Pinnacle Airlines last traded at $6.77 each, off 3%, after reaching an intraday low of $6.55.
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