WILLIS LEASE FINANCE REPORTS 2Q11 EARNINGS PER SHARE RISE

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By TESTCustomwebLP TESTCustomwebLP August 9, 2011 08:48

WILLIS LEASE FINANCE REPORTS 2Q11 EARNINGS PER SHARE RISE

Willis Lease Finance Corporation has reported year-over- year second quarter net income grew 83% and net earnings applicable to common shareholders increased 140%. Net income increased to $3.5 million in the second quarter of 2011, up from $1.9 million in the second quarter a year ago. After payment of preferred dividends, net income available to common shareholders was $2.7 million or $0.31 per diluted common share, up from $1.1 million or $0.12 per diluted share in the second quarter a year ago.

For the first six months of 2011, net income grew 72% to $8.5 million from $5.0 million in the first half of 2010. Net income attributable to common shareholders more than doubled to $7.0 million, or $0.78 per diluted share, from $3.4 million, or $0.37 per diluted share, in the first half of 2010.

Second Quarter 2011 highlights (at or for the periods ended June 30, 2011, compared to March 31, 2011, and June 30, 2010)
At June 30, 2011, Willis Lease had 186 commercial aircraft engines, 3 aircraft parts packages and 3 aircraft and other engine-related equipment in its lease portfolio, with a net book value of $1.0 billion, compared to 172 commercial aircraft engines, 4 aircraft parts packages and 4 aircraft and other engine-related equipment in its lease portfolio, with a net book value of $971.0 million a year ago. The Company’s funded debt-to-equity ratio was 3.39 to 1 at June 30, 2011, compared to 3.24 to 1 a year ago.

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By TESTCustomwebLP TESTCustomwebLP August 9, 2011 08:48
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