JetBlue Airways Profit More Than Doubles

JetBlue Airways Corp., a discount carrier that ordered more than $9 billion worth of new planes this year, said second-quarter profit more than doubled as the company held down costs while adding service to new cities.

Net income rose to $37.9 million, or 55 cents a share, from $14.6 million, or 22 cents, in the same period in 2002. Sales rose 64% to $244.7 million, and costs per seat flown were cut to a record low, Chief Financial Officer John Owen said.

New York-based JetBlue’s results in the last quarter were boosted by $11.5 million, or 17 cents a share, from U.S. funds to help offset security costs. Excluding the aid, JetBlue earned $26.4 million, or 38 cents a share, exceeding a forecast of 28 cents from analysts polled by Thomson First Call.

Shares of JetBlue rose 25 cents to $43.89 on Nasdaq.

* Conexant Systems Inc. narrowed its loss as sales of its chips for home networks improved. The Newport Beach-based company reported a loss of $49 million, or 18 cents a share, in its fiscal third quarter, down from $299 million, or $1.51, in the same period last year. Revenue grew 14% to $151 million.

* Silicon Graphics Inc., whose high-performance computers are used by animation studios and in missile defense systems, said its fiscal fourth-quarter loss was $36.6 million, or 18 cents a share, up from $36.7 million, or 18 cents, a year earlier. Sales fell 16% to $240.2 million.