Allegiant Travel Company (ALGT), a leisure travel company, has posted a 30.04 percent surge in profit for the quarter ended Jun. 30, 2014. The company earned $33.50 million or $1.86 a share in the second-quarter compared with $25.76 million or $1.34 a share a year ago. Analysts on average had predicted net income of $1.59 a share.

Revenue during the second-quarter grew 13.56 percent to $290.54 million from $255.85 million in the last year period.

Gross margin expanded by 243 basis points over the previous year period to 56 percent. Operating income for the quarter increased to $56.41 million, compared with $42.86 million in the last year period. That has resulted in improvement of 267 basis points in operating margins to 19.42 percent.

''We are very proud to report our 46th consecutive profitable quarter,'' stated Maurice J Gallagher, Jr., chairman and CEO of Allegiant Travel Company. ''We have been working very hard to mitigate the crew training issues that have impacted us in the past two quarters. Although these issues did contribute to operational inefficiencies and incremental costs during this past quarter we are trending in the right direction and hope these issues have minimal impact in the third quarter. 

On a much more positive note, in June we completed multiple aircraft transactions to add 14 additional aircraft to our future fleet and raised $300 million of debt in the high yield market with very competitive terms.  We could not have done this without the tremendous effort of our Team Members.''

Shares of Allegiant Travel gained 2.51 a share or 2.05 percent to close at $124.85 on Wednesday.