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Air Lease tops Street 4Q forecasts

LOS ANGELES (AP) _ Air Lease Corp. (AL) on Thursday reported fourth-quarter earnings of $97 million.

On a per-share basis, the Los Angeles-based company said it had net income of 89 cents. Earnings, adjusted for pretax expenses and amortization costs, came to $1.48 per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 83 cents per share.

The company that leases planes to airlines posted revenue of $370.5 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $358.2 million.

For the year, the company reported profit of $374.9 million, or $3.44 per share. Revenue was reported as $1.42 billion.

Air Lease shares have risen 14 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $39.27, a rise of 38 percent 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

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Keywords: Air Lease, Earnings Report