JetBlue Airways Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2011. For the quarter, the company reported pre-tax income of $40 million compared to pre-tax income of $13 million in the year-ago period. Net income was $23 million, or $0.08 per diluted share compared to net income of $8 million, or $0.03 per diluted share a year ago. Revenues were $1,146 million compared to $938 million a year ago. Operating income was $83 million compared to $55 million a year ago. Income before income taxes was $40 million compared to $13 million a year ago. During fourth quarter, the company generated operating cash flow of $114 million. With regard to the fourth quarter, the company spent approximately $95 million in aircraft capex, $75 million in non-aircraft capex. For the year, the company reported pre-tax income of $145 million compared to a pre-tax income of $161 million for the full year 2010. Net income was $86 million, or $0.28 per diluted share compared to net income of $97 million, or $0.31 per diluted share, for the full year 2010. Revenues were $4,504 million compared to $3,779 million a year ago. Operating income was $322 million compared to $333 million a year ago. Income before income taxes was $145 million compared to $161 million a year ago. The company provided operating guidance for the first quarter and full year of 2012. For the first quarter of 2012, CASM is expected to increase between 2.0% and 4.0% over the year-ago period. Excluding fuel, CASM in the first quarter is expected to range between a decrease of 0.5% and an increase of 1.5% year over year. The company expects CASM to increase between 1.5% and 3.5% over full year 2012. Excluding fuel, CASM in 2012 is expected to increase between 2.0% and 5.0% year over year. The company expects approximately two thirds of this year over year increase to be driven by maintenance expense. The company estimates 2012 capital expenditures about $645 million, $430 million for aircraft, $215 million for non-aircraft related expenditures.