Revenue Update on Fly Leasing Ltd(ADR)(NYSE:FLY)

Fly Leasing Ltd(ADR)(NYSE:FLY) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $77.93M. Analysts estimated a revenue of $80.88M. Earnings per share were $0.45. Analysts had estimated an EPS of $0.34.

Fly Leasing Ltd(ADR) (FLY) shares turned negative on Thursdays trading session with the shares closing down -0.16 points or -1.33% at a volume of 1,84,353. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $12.06. The peak price level was also seen at $12.06 while the days lowest was $11.77. Finally the shares closed at $11.83. The 52-week high of the shares is $14.75 while the 52-week low is $9.54. According to the latest information available, the market cap of the company is $395 M.

Fly Leasing Limited (Fly) is engaged in purchasing commercial aircraft which it leases under multi-year contracts to a range of airlines throughout the world. As of December 31 2014 the Company’s aircraft portfolio consisted of 127 commercial jet aircraft consisting of 116 narrow-body passenger aircraft including two freighters and 11 wide-body passenger aircraft. Fly primarily acquires aircraft by entering into purchase and leaseback transactions with airlines for new aircraft purchasing portfolios consisting of aircraft of various types and ages and acquiring individual aircraft. As of December 31 2014 the Company had 72 Boeing aircraft and 55 Airbus aircraft in its fleet. As of December 31 2014 the Company’s aircraft portfolio ranged across 64 airlines in 36 countries. Fly Leasing Management Co. Limited (Manager) manages the Company’s operations.

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