Willis Lease Finance reports net profit of $7.2m in 2014

Willis Lease Finance Corporation (WLFC) reported a 2014 net income of $7.2 million, compared to net income of $15.6 million in 2013. Aftertax income for 2013 included a one-time $8.6 million tax benefit. On record annual sales of $174.3 million, pretax earnings from operations increased 35.2% to $10.5 million in 2014 from $7.8 million a year ago and income before income taxes increased 4.8% to $11.8 million in 2014 from $11.3 million a year ago. In the fourth quarter of 2014, Willis Lease reported a net loss of $0.3 million, or $0.03 per diluted share, compared to net income of