$WLFC
WILLIS LEASE FINANCE CORP

2013 Q2 Form 10-Q Financial Statement

#000110465913060321 Filed on August 06, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $37.95M $35.15M
YoY Change 7.97% -9.15%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $13.40M $10.70M
YoY Change 25.23% -6.14%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $14.20M $12.49M
YoY Change 13.69% -4.44%
% of Gross Profit
Operating Expenses $27.60M $23.20M
YoY Change 18.97% -4.92%
Operating Profit $4.835M
YoY Change -12.12%
Interest Expense -$6.500M $7.119M
YoY Change -191.3% -18.99%
% of Operating Profit 147.24%
Other Income/Expense, Net
YoY Change
Pretax Income $1.887M $5.034M
YoY Change -62.51% -13.53%
Income Tax -$7.800M $1.805M
% Of Pretax Income -413.35% 35.86%
Net Earnings $9.692M $3.229M
YoY Change 200.15% -7.24%
Net Earnings / Revenue 25.54% 9.19%
Basic Earnings Per Share $1.20 $0.29
Diluted Earnings Per Share $1.17 $0.28
COMMON SHARES
Basic Shares Outstanding 8.106M shares 8.585M shares
Diluted Shares Outstanding 8.303M shares 8.848M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.300M $4.600M
YoY Change -6.52% -44.58%
Cash & Equivalents $4.300M $4.574M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $8.800M $8.600M
Other Receivables $0.00 $0.00
Total Short-Term Assets $13.10M $13.20M
YoY Change -0.76% -17.5%
LONG-TERM ASSETS
Property, Plant & Equipment $1.021B $976.9M
YoY Change 4.47% -4.24%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $31.45M $18.40M
YoY Change 70.93% 4.55%
Other Assets $58.10M $92.50M
YoY Change -37.19% -18.65%
Total Long-Term Assets $1.132B $1.104B
YoY Change 2.62% -6.04%
TOTAL ASSETS
Total Short-Term Assets $13.10M $13.20M
Total Long-Term Assets $1.132B $1.104B
Total Assets $1.146B $1.117B
YoY Change 2.58% -6.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $18.30M $15.90M
YoY Change 15.09% -11.17%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $29.30M $22.50M
YoY Change 30.22% -5.46%
LONG-TERM LIABILITIES
Long-Term Debt $744.5M $686.0M
YoY Change 8.53% -12.46%
Other Long-Term Liabilities $75.40M $76.70M
YoY Change -1.69% 7.88%
Total Long-Term Liabilities $819.9M $762.7M
YoY Change 7.5% -10.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $29.30M $22.50M
Total Long-Term Liabilities $819.9M $762.7M
Total Liabilities $932.9M $873.3M
YoY Change 6.83% -8.98%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $212.7M $243.5M
YoY Change
Total Liabilities & Shareholders Equity $1.146B $1.117B
YoY Change 2.58% -6.2%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income $9.692M $3.229M
YoY Change 200.15% -7.24%
Depreciation, Depletion And Amortization $14.20M $12.49M
YoY Change 13.69% -4.44%
Cash From Operating Activities $20.00M $26.00M
YoY Change -23.08% -2.26%
INVESTING ACTIVITIES
Capital Expenditures -$12.90M -$10.60M
YoY Change 21.7% -69.8%
Acquisitions
YoY Change
Other Investing Activities $6.900M $3.000M
YoY Change 130.0% -113.51%
Cash From Investing Activities -$5.900M -$7.700M
YoY Change -23.38% -86.59%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -11.10M -19.30M
YoY Change -42.49% -153.17%
NET CHANGE
Cash From Operating Activities 20.00M 26.00M
Cash From Investing Activities -5.900M -7.700M
Cash From Financing Activities -11.10M -19.30M
Net Change In Cash 3.000M -1.000M
YoY Change -400.0% -118.18%
FREE CASH FLOW
Cash From Operating Activities $20.00M $26.00M
Capital Expenditures -$12.90M -$10.60M
Free Cash Flow $32.90M $36.60M
YoY Change -10.11% -40.68%

Facts In Submission

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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1030000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-729000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
20000000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
553000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
1564000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
1227000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
603000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
685000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1793000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
52402000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-35003000 USD
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
-1866000 USD
us-gaap Interest Paid Net
InterestPaidNet
9376000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
65000 USD
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
-1039000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
51139000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
38568000 USD
us-gaap Transfer Of Portfolio Loans And Leases To Held For Sale1
TransferOfPortfolioLoansAndLeasesToHeldForSale1
2063000 USD
us-gaap Transfer Of Portfolio Loans And Leases To Held For Sale1
TransferOfPortfolioLoansAndLeasesToHeldForSale1
3208000 USD

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