Southwest Airlines Co (LUV.N) reported a lower quarterly profit as mounting fuel costs raised operating expenses. The traditional low-fare leader said on Thursday first quarter net income came to $5 million, or 1 cent a share, compared with $11 million, or 1 cent a share, a year earlier. Excluding special items, profit came to 3 cents a share, in line with consensus analyst estimates, according to Thomson Reuters I/B/E/S. Quarterly revenue rose 18 percent to $3.1 billion. Total expenses rose 16 percent as fuel and oil costs were up 26 percent.
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