XML 43 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
REVENUE    
Lease rent revenue $ 24,487 $ 24,085
Maintenance reserve revenue 9,229 8,578
Gain on sale of leased equipment 686 2,608
Other revenue 902 468
Total revenue 35,304 35,739
EXPENSES    
Depreciation expense 13,610 12,506
Write-down of equipment   282
General and administrative 8,269 8,737
Technical expense 1,674 1,319
Net finance costs:    
Interest expense 9,227 7,947
Interest income   (30)
Total net finance costs 9,227 7,917
Total expenses 32,780 30,761
Earnings from operations 2,524 4,978
Earnings from joint ventures 93 397
Income before income taxes 2,617 5,375
Income tax expense (1,007) (2,086)
Net income 1,610 3,289
Preferred stock dividends   782
Net income attributable to common shareholders $ 1,610 $ 2,507
Basic earnings per common share: (in dollars per share) $ 0.20 $ 0.30
Diluted earnings per common share: (in dollars per share) $ 0.19 $ 0.29
Average common shares outstanding (in shares) 8,033 8,404
Diluted average common shares outstanding (in shares) 8,273 8,756