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FLY Leasing Limited Message Board

  • learsfool000 learsfool000 May 2, 2013 8:06 AM Flag

    Solid quarter for FLY

    Looks like a good quarter: Consensus est. .72 per share

    Adjusted net income of $38.5 million, $1.37 per share
    Net income of $32.8 million, $1.15 per share
    Sold one A320, six B717s and two B737 Classics for a pre-tax gain of $6.5 million
    Reduced financial leverage to 3.2x at quarter end
    Declared our 22nd consecutive quarterly dividend on April 15th ($0.22 per share)
    In April purchased a new B737-800 on a long lease to an Asian airline

    New Share buyback: On May 1, 2013, the Company's board of directors approved a $30 million share repurchase program expiring in May 2014 to replace the previous program.

    Reduced debt: FLY's net leverage, defined as the ratio of net debt to total shareholders' equity was 3.2x at March 31, 2013 compared to 3.6x at December 31, 2012. FLY has surpassed its stated goal of returning net leverage to less than 3.5x.

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12.26+0.16(+1.32%)Oct 24 4:02 PMEDT