Kitty Hawk’s 4Q Earnings Increase

Air freight and cargo company Kitty Hawk Inc. said Tuesday it earned $8.3 million or 15 cents a share in the fourth quarter, compared with a loss of $4.1 million or 8 cents a year earlier.
 
Revenue jumped 87.8% to $86.2 million for the quarter, the company said in a statement.

For the year, Kitty Hawk lost $15.6 million or 30 cents a share, compared with an $8.8 million or 17 cents-per-share loss in 2005.

The company said that it had strong growth in ground freight last year, in part due to its June acquisition of Air Container Transport.