COUNTY DUBLIN, Ireland (AP) _ Fly Leasing Ltd. (FLY) on Thursday reported a fourth-quarter loss of $107 million, after reporting a profit in the same period a year earlier.
The County Dublin, Ireland-based company said it had a loss of $3.51 per share. Losses, adjusted for one-time gains and costs, came to 1 cent per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 13 cents per share.
The commercial aircraft leasing company posted revenue of $72.8 million in the period.
For the year, the company reported a loss of $67.4 million, or $2.21 per share, swinging to a loss in the period. Revenue was reported as $334.4 million.
Fly Leasing shares have increased 28% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $12.62, a drop of 22% in the last 12 months.