XML 16 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
REVENUE        
Lease rent revenue $ 29,181 $ 25,882 $ 57,457 $ 51,142
Maintenance reserve revenue 15,514 10,477 31,333 22,916
Spare parts and equipment sales 3,673 3,716 6,305 5,867
Gain on sale of leased equipment 258 3,132 3,250 3,862
Other revenue 992 603 1,992 1,359
Total revenue 49,618 43,810 100,337 85,146
EXPENSES        
Depreciation and amortization expense 16,188 17,626 32,607 35,288
Cost of spare Parts and Equipment Sales 2,787 2,820 4,719 4,300
Write-down of equipment 1,893 3,058 3,929 3,082
General and administrative 10,685 9,112 22,437 19,084
Technical expense 1,803 2,434 3,499 4,266
Net finance costs:        
Interest expense 10,397 9,860 20,405 19,427
Loss (gain) on debt extinguishment 137   137 (1,151)
Total net finance costs 10,534 9,860 20,542 18,276
Total expenses 43,890 44,910 87,733 84,296
Earnings (loss) from operations 5,728 (1,100) 12,604 850
Earnings from joint ventures 56 215 243 569
Income (loss) before income taxes 5,784 (885) 12,847 1,419
Income tax expense (benefit) 2,418 (399) 5,470 547
Net income (loss) $ 3,366 $ (486) $ 7,377 $ 872
Basic earnings (loss) per common share: (in dollars per share) $ 0.50 $ (0.06) $ 1.07 $ 0.11
Diluted earnings (loss) per common share: (in dollars per share) $ 0.49 $ (0.06) $ 1.05 $ 0.11
Average common shares outstanding (in shares) 6,685 7,841 6,917 7,845
Diluted average common shares outstanding (in shares) 6,819 7,841 7,047 8,022