Published in
M2 PressWIRE
on Friday, 09 May 2008 at
17:56 GMT
Copyright (C) 2008, M2 Communications Ltd.
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AerCap Holdings N.V. was down less than $0.80 on below average volume early trading Friday, May 9, 2008. They recently announced the following:
Friday, May 9, 2008 - AerCap Holdings N.V. announced the results of its operations for the first quarter ended March 31, 2008.
First Quarter 2008 Highlights
-- First quarter 2008 net income was US$50.9 million, compared with US$60.6 million for the same period in 2007. First quarter 2008 net Income excluding non-cash charges relating to the mark-to-market of interest rate caps and share-based compensation was US$59.9 million, compared with US$66.7 million in first quarter 2007 on the same basis.
-- The decrease in net income in first quarter 2008 compared with first quarter 2007 was driven by maintenance, sales, and other revenue which do not occur evenly throughout all quarters. First quarter 2007 had a higher amount of these revenues than first quarter 2008.
-- First quarter 2008 basic and diluted earnings per share were US$0.60.
First quarter 2008 basic and diluted earnings per share excluding non-cash charges relating to the mark-to-market of interest rate caps and share-based compensation were US$0.71.
-- Basic lease rents increased 7% in the first quarter 2008 compared to the first quarter 2007, while interest expense excluding non-cash charges relating to the mark-to-market of interest rate caps decreased 11%. The difference between basic lease rents and the adjusted interest expense was US$85.6 million in first quarter 2008 compared to US$72.7 million in first quarter 2007, an increase of 18%.
-- Sales revenue for the first quarter 2008 was US$142.5 million, compared to US$148.9 million for the same period in 2007, and was generated from the sale of eight aircraft and the sale of parts inventory. Total revenue for the first quarter 2008 was US$294.5 million, compared to US$309.5 million for the same period in 2007.
-- Total assets were US$4.6 billion at March 31, 2008, an increase of 14% over total assets of US$4.0 billion at March 31, 2007.
-- Committed purchases of aviation assets delivered or scheduled for delivery in 2008 are US$1.2 billion, of which US$277.1 million closed in first quarter 2008. Total committed purchases include the purchase of a 21 used aircraft portfolio which is subject to a signed letter of intent.
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Release date: 09 May 2008
