Air Lease Corporation releases fourth quarter and fiscal year 2013 results

Air Lease Corporation reports another consecutive quarter of fleet, revenue and profitability growth. Diluted EPS increased 45% to $0.55 per share for the three months ended December 31, 2013 compared to $0.38 per share for the three months ended December 31, 2012. Diluted EPS increased 41% to $1.80 per share for the year ended December 31, 2013 compared to $1.28 per share for the year ended December 31, 2012. Revenues increased 28% to $243m for the three months ended December 31, 2013 compared to $190m for the three months ended December 31, 2012. Revenues increased 31% to $859m for the year ended December 31, 2013 compared to $656 million for the year ended December 31, 2012. Income before taxes increased 48% to $91m with a pretax margin of 37% for the three months ended December 31, 2013 compared to income before taxes of $61m with a pretax margin of 32% for the three months ended December 31, 2012. Income before taxes increased 44% to $293m with a pretax margin of 34% for the year ended December 31, 2013 compared to income before taxes of $204m with a pretax margin of 31% for the year ended December 31, 2012. The company recorded $18.9m in gains on aircraft sales, trading and other activity for the year ended December 31, 2013.