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NEW YORK - Babcock & Brown Air Ltd., which buys and leases commercial jet aircraft, said Wednesday that its fourth-quarter earnings totaled $4.4 million, or 13 cents per share.
Babcock & Brown was incorporated in May 2007 and went public through an initial public offering in September 2007.
Analysts surveyed by Thomson Financial forecast a fourth-quarter loss of 7 cents per share.
The company's quarterly revenue totaled $33.3 million, which was offset by $27.6 million in expenses.
"Despite concerns about a slowdown in economic activity in North America, demand for leased aircraft remains strong, particularly from airlines in the emerging markets," said Chief Executive Colm Barrington.
From Babcock & Brown's date of incorporation through Dec. 31, the company reported earnings of $2.3 million, or 19 cents per share. Revenue totaled $33.3 million.
Babcock & Brown shares closed Tuesday at $14.64, which is 36 percent below the company's initial public offering price of $23.
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13th, 2007
10:09am
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