XML 27 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Statements of Operations (USD $)
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Revenues and other income:    
Operating lease revenue, net $ 19,403,900 $ 22,766,200
Maintenance reserves revenue, net 3,340,100 7,080,900
Gain on disposal of assets 1,371,000 416,000
Other income 437,700 229,500
Recovery of bad debt 0 208,000
Total Income 24,552,700 30,700,600
Expenses:    
Maintenance 10,933,700 11,172,500
Depreciation 5,598,900 7,395,700
Interest 3,934,800 4,298,600
Management fees 3,715,400 3,644,800
Professional fees, general and administrative and other 1,333,400 1,012,500
Insurance 878,900 562,000
Other taxes 90,200 90,100
Total expenses 26,485,300 28,176,200
(Loss)/income before income tax provision (1,932,600) 2,524,400
Income tax (benefit)/provision (482,200) 876,300
Net (loss)/income $ (1,450,400) $ 1,648,100
(Loss)/earnings per share:    
Basic (in dollars per share) $ (0.94) $ 1.07
Diluted (in dollars per share) $ (0.94) $ 1.04
Weighted average shares used in (loss)/earnings per share computations:    
Basic (in shares) 1,543,257 1,543,257
Diluted (in shares) 1,543,257 1,584,464