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Air Lease: 4Q Earnings Snapshot

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LOS ANGELES (AP) _ Air Lease Corp. (AL) on Monday reported fourth-quarter net income of $111.1 million.

The Los Angeles-based company said it had net income of 94 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.

The company that leases planes to airlines posted revenue of $489.1 million in the period.

For the year, the company reported profit of $516.3 million, or $4.39 per share. Revenue was nearly unchanged at $2.02 billion.

Air Lease shares have climbed nearly 5% since the beginning of the year. In the final minutes of trading on Monday, shares hit $46.49, a rise of 4% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AL at https://www.zacks.com/ap/AL