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FLY Leasing revenue down 7.6%, net profit down 16% in 3Q2010

8-Nov-2010 11:50 AM

FLY Leasing revenue down 7.6% - financial highlights for the three months ended 30-Sep-2010:

  • Total revenue: USD62.6 million, -7.6% year-on-year;
    • Operating lease: USD51.7 million, -4.7%;
  • Net profit: USD12.2 million, -15.6%;
  • Total assets: USD2,006 million, -0.9%;
  • Cash and cash equivalents: USD113.8 million, +18.6%;
  • Total liabilities: USD1,558 million, +1.2%. [more]

FLY Leasing: “In the quarter we spent USD17.6 million on repurchasing a further 1.6 million share at an average price of USD10.70 per share and paid a quarterly dividend of USD 0.20 cents per share. Meanwhile, our available cash flow per share was USD1.48 for the quarter compared to USD0.96 in the same quarter last year, an increase of over 50%. We have now placed several aircraft that were off-lease during the quarter and expect our fleet to be leased or committed to airlines by the end of the year,” Colm Barrington, CEO. Source: FLY Leasing, 04-Nov-2010.