FLY Leasing reports Q1 2016 results

FLY Leasing has reported a net income of $7.1 million, $0.21 per share, for the first quarter of 2016. This compares to net income of $19.9 million or $0.47 per diluted share for the same period in 2015. The first quarter 2015 results include $21.9 million of end of lease revenue, whereas there was only $3.2 million of end of lease revenue in the first quarter of 2016.  All results for the first quarter of 2015 have been restated as described previously (click here). FLY’s adjusted net income was $16.2 million for the first quarter of 2016 compared to $30.2