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FLY Leasing Limited Message Board

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  • strum_this strum_this Mar 8, 2012 10:08 AM Flag

    Earnings great

    One has to wonder why estimates were not raised. The writing has been on the wall for about 4 months, no?

    High-fives all around.
    con·vic·tion  [kuhn-vik-shuhn]
    Confidence in the truth or existence of something not immediately susceptible to rigorous proof.

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    • Anyone following the conference call ? With such an injcrease in free cash flow, they should be increasing the dividend. Any information on that ?

      • 2 Replies to rajivshorey
      • I haven't listened yet but these guys play things pretty straight. I wouldn't necessarily expect a raise until later in the year after they have replenished some of their previous cash cushion.

      • rajiv- Barrington was pressed hard by one of the analysts during the Q @ A. Management played it close to the chest, reiterating that the company pays a dividend of six per cent based on the current price and that dividends were reviewed on a quarterly basis. When the analyst press him on how the impact of the added cash flow would allow them to raise the dividend with ease, management held their ground.

        Managent disclosed that the company has 380.5 million in cash on hand, 150 million unrestricted. That comes out to six dollars a share of unrestricted cash. Should the company choose to, they could raise the dividend significantly, with ease.

        Barrington was very upbeat on the call stating that revenues will increase YOY from 194 million to 363 million, or an 87 per cent increase. Sounds like management is actively seeking to increase the fleet and that there will be additional sales of airplanes.

        On the downside there have been four takebacks recently but forward fees will soften the impact and placements are happening. Actually. management shines during difficult times because our guys are constantly turning rocks, looking for opportunities.

        Great start out of the gate this morning but the spec guys and gals took profit and bailed. Not totally unexpected, happened with ayr.

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