News Summary: Costs cut into Southwest's 4Q profit

LOWER PROFIT: Fourth-quarter net income at Southwest Airlines Co. fell by nearly half, to $78 million. Adjusted profit still beat analysts' expectations, however.

HIGHER COSTS: Earnings were pulled down by increases in the cost of labor, maintenance and fuel. Expenses rose faster than revenue.

FARES RISING: The average fourth-quarter fare on Southwest and its AirTran Airways subsidiary climbed 5.4 percent from a year ago, to $148.02 each way.