Last $21.50 USD
Change Today -0.04 / -0.19%
Volume 23.0K
WLFC On Other Exchanges
Symbol
Exchange
Berlin
NASDAQ GM
As of 8:10 PM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).

willis lease finance corp (WLFC) Snapshot

Open
$21.59
Previous Close
$21.54
Day High
$21.59
Day Low
$21.35
52 Week High
06/23/14 - $26.19
52 Week Low
01/28/14 - $16.02
Market Cap
180.9M
Average Volume 10 Days
12.3K
EPS TTM
$1.50
Shares Outstanding
8.4M
EX-Date
--
P/E TM
14.3x
Dividend
--
Dividend Yield
--
Current Stock Chart for WILLIS LEASE FINANCE CORP (WLFC)

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willis lease finance corp (WLFC) Details

Willis Lease Finance Corporation is engaged in leasing commercial aircraft engines and equipment worldwide. The company leases commercial aircraft engines and other aircraft-related equipment to air carriers, manufacturers, and overhaul/repair facilities. Its engine portfolio consists of noise-compliant Stage III commercial jet engines. The company is also engaged in the purchase and resale of new and used commercial aircraft engines, as well as sale of aircraft engine parts and materials. As of December 31, 2013, it operated a lease portfolio of 202 engines and related equipment, 4 aircraft and various parts, and 5 spare parts packages with 82 lessees in 41 countries, as well as managed a lease portfolio of 43 engines and related equipment for other parties. Willis Lease Finance Corporation was founded in 1985 and is headquartered in Novato, California.

89 Employees
Last Reported Date: 03/17/14
Founded in 1985

willis lease finance corp (WLFC) Top Compensated Officers

Founder, Chairman and Chief Executive officer
Total Annual Compensation: $1.3M
President
Total Annual Compensation: $475.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $380.0K
Senior Vice President, General Counsel and Se...
Total Annual Compensation: $360.0K
Senior Vice President Technical Services
Total Annual Compensation: $248.3K
Compensation as of Fiscal Year 2013.

willis lease finance corp (WLFC) Key Developments

Willis Lease Finance Corporation Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Announces Write-Down of Equipment for the Third Quarter Ended September 30, 2014

Willis Lease Finance Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net income attributable to common shareholders of $0.979 million, or $0.12 per diluted share compared to net loss attributable to common shareholders of $2.229 million or $0.27 per diluted share a year ago. Total revenue was $42.745 million compared to $37.952 million a year ago. Income from operations was $1.994 million compared to loss of $3.323 million a year ago. Income before income taxes was $2.263 million compared to loss of $3.612 million a year ago. For the nine months, the company reported net income attributable to common shareholders of $7.525 million or $0.92 per diluted share compared to net income attributable to common shareholders of $9.073 million or $1.09 per diluted share a year ago. Total revenue was $128.505 million compared to $111.209 million a year ago. Income from operations was $11.732 million compared to loss of $2.294 million a year ago. Income before income taxes was $12.551 million compared to $0.892 million a year ago. Tangible book value per share increased 8.8% to $26.39 at quarter end, compared to $24.27 a year ago. For the quarter, the company announced write-down of equipment of $0.45 million against $4.283 million a year ago.

Willis Lease Finance Corporation Settles SEC Action on Late Filings

Willis Lease Finance Corporation announced that the U.S. Securities and Exchange Commission (SEC) has approved the settlement of an administrative proceeding, previously disclosed in the company's Forms 10-K and 10-Q, alleging that in certain instances Company executives had failed to timely file reports regarding their stock ownership. The SEC's case was part of a broad sweep against multiple public companies and their executives relating to late filings of such reports. As previously reported, the officers had typically reported their securities transactions to the Company, and had been informed that timely filings with the SEC had been made on their behalf. However, on certain occasions, Company personnel failed to make such filings with the SEC on a timely basis, leading to filings being delayed by 1 or more days. According to the SEC, alleged violations of these reporting provisions have no state of mind requirement, and even an inadvertent failure to timely file the disclosure may constitute a violation. The Company has since hired a new General Counsel and has taken remedial steps to ensure ongoing compliance with filing deadlines, including the hiring of a new SEC compliance manager. The Company will continue to monitor its policies and personnel to ensure ongoing corporate compliance.

Willis Lease Finance Corp. Reports Consolidated Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Records Write-Down of Equipment

Willis Lease Finance Corp. reported consolidated unaudited earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total revenue of $42,251,000 compared with $37,953,000 for the same period last year. Earnings from operations was $3,306,000 compared with loss from operations $11,495,000 for the same period last year. Income before income taxes was $3,551,000 compared with $1,887,000 for the same period last year. Net income attributable to common shareholders was $2,214,000 or $0.27 diluted per share compared with $9,692,000 or $1.17 diluted per share for the same period last year. Earnings for the second quarter of 2013 were positively impacted by a one-time $8.6 million tax benefit related to a reduction in the company's deferred tax liability and higher than normal earnings from joint ventures due to the recording of $3.4 million of maintenance reserve revenue related to the termination of aircraft leases within the WOLF joint venture. For the six months, the company reported total revenue of $85,251,000 compared with $73,257,000 for the same period last year. Earnings from operations was $9,736,000 compared with $1,029,000 for the same period last year. Income before income taxes was $10,287,000 compared with $4,504,000 for the same period last year. Net income attributable to common shareholders was $6,545,000 or $0.80 diluted per share compared with $11,302,000 or $1.36 diluted per share for the same period last year. Tangible book value per share increased 8.9% to $26.13 at June 30, 2014 compared to $24.00 a year ago. For the second quarter, the company recorded write-down of equipment of $2,183,000 compared with $1,985,000 for the same period last year.

 

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Valuation WLFC Industry Range
Price/Earnings 12.5x
Price/Sales 1.0x
Price/Book 0.8x
Price/Cash Flow 2.3x
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