Air Lease Corporation announces first quarter 2012 results

Air Lease Corporation (ALC) announced the results of its operations for the quarter ended March 31, 2012. Basic EPS increased to $0.27 per share in the first quarter of 2012 compared to $0.25 in the fourth quarter of 2011 and $0.05 in the first quarter of 2011. ALC reported a pretax profit margin of 31.4%, marking the third consecutive quarter with a pretax profit margin in excess of 30%. Revenues increased to $133m in the first quarter of 2012 compared to $115m in the fourth quarter of 2011 and $55m in the first quarter of 2011. Pretax income increased to $42m in the first quarter of 2012 compared to $39m in the fourth quarter of 2011 and $5m in the first quarter of 2011. ALC took delivery of 12 additional aircraft from its pipeline growing its fleet to 114 aircraft at the end of the first quarter of 2012.