XML 25 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements Of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
REVENUE    
Lease rent revenue $ 24,085 $ 27,306
Maintenance reserve revenue 8,578 8,226
Gain on sale of leased equipment 2,608 5,060
Other income 468 220
Total revenue 35,739 40,812
EXPENSES    
Depreciation expense 12,506 13,189
Write-down of equipment 282  
General and administrative 8,737 8,211
Technical expense 1,319 2,307
Net finance costs:    
Interest expense 7,947 9,244
Interest income (30) (43)
Total net finance costs 7,917 9,201
Total expenses 30,761 32,908
Earnings from operations 4,978 7,904
Earnings from joint ventures 397 306
Income before income taxes 5,375 8,210
Income tax expense (2,086) (3,147)
Net income 3,289 5,063
Preferred stock dividends paid and declared-Series A 782 782
Net income attributable to common shareholders $ 2,507 $ 4,281
Basic earnings per common share: $ 0.30 $ 0.50
Diluted earnings per common share: $ 0.29 $ 0.47
Average common shares outstanding 8,404 8,552
Diluted average common shares outstanding 8,756 9,048