Southwest Airlines Co (LUV), the discount airline reported second quarter revenues rose 21% to $3.17 billion from $2.62 billion a year ago. Net income in the quarter rose 23% to $112 million or 15 cents per diluted share compared to net income of $91 million or 12 cents per share a year ago.

Southwest Airlines Co, in the last one year traded as high as $60.10 in April 2010 and as low as $7.41 in July 2009. Based on the yesterday’s closing price of $12.17 the company has market cap of $9.06 billion.