Company profile

Ticker
ACY
Exchange
CEO
Michael G. Magnusson
Employees
Incorporated in
Location
Fiscal year end
Former names
Aeromax Inc
SEC CIK
IRS number
943263974

ACY stock data

(
)

Calendar

14 Nov 19
20 Jan 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Sep 19 Jun 19 Mar 19 Dec 18
Revenue 23.99M 7.16M 7.57M 6.4M
Net income -8.23M -77.6K -1.31M -3.83M
Diluted EPS -5.32 -0.05 -0.85 -2.58
Net profit margin -34.32% -1.08% -17.29% -59.94%
Net change in cash -1.3M -4.69M 6.5M -5.23M
Cash on hand 2.06M 3.36M 8.05M 1.54M
Annual (USD) Dec 18 Dec 17 Dec 16 Dec 15
Revenue 27.12M 35.55M 28.72M 38.53M
Net income -8.08M 7.4M 1.22M 6.44M
Diluted EPS -5.58 5.1 0.78 4.17
Net profit margin -29.80% 20.81% 4.25% 16.71%
Net change in cash -7.12M 6.46M -526.6K 880.5K
Cash on hand 1.54M 8.66M 2.19M 2.72M

Financial data from AeroCentury earnings reports

13F holders
Current Prev Q Change
Total holders 10 12 -16.7%
Opened positions 1 2 -50.0%
Closed positions 3 3
Increased positions 1 0 +Infinity%
Reduced positions 3 4 -25.0%
13F shares
Current Prev Q Change
Total value 1.22M 1.57M -22.2%
Total shares 197.48K 216.12K -8.6%
Total puts 0 0 NaN%
Total calls 0 0 NaN%
Total put/call ratio NaN NaN NaN%
Largest owners
Shares Value Change
Dimensional Fund Advisors 86.18K $534K +0.1%
Perritt Capital Management 46.17K $286K -10.4%
Renaissance Technologies 30.6K $190K -8.9%
Bridgeway Capital Management 21K $130K 0.0%
Vanguard 10.18K $63K -0.1%
MS Morgan Stanley 2K $12K 0.0%
Certified Advisory 871 $5K 0.0%
BLK BlackRock 249 $2K 0.0%
Victory Capital Management 221 $1K NEW
Proequities 0 $0
Largest transactions
Shares Bought/sold Change
Leisure Capital Management 0 -10.1K EXIT
Perritt Capital Management 46.17K -5.33K -10.4%
Renaissance Technologies 30.6K -3K -8.9%
Panagora Asset Management 0 -528 EXIT
Victory Capital Management 221 +221 NEW
Dimensional Fund Advisors 86.18K +100 +0.1%
Vanguard 10.18K -6 -0.1%
BAC Bank of America 0 -3 EXIT
MS Morgan Stanley 2K 0 0.0%
BLK BlackRock 249 0 0.0%

Financial report summary

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Management Discussion
  • Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations.
  • The Company provides leasing and finance services to regional airlines worldwide. The Company is principally engaged in leasing its aircraft portfolio, primarily consisting of mid-life regional aircraft, through operating leases and finance leases to its globally diverse customer base of nine airlines in seven countries. In addition to leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines. Its operating performance is driven by the composition of its aircraft portfolio, the terms of its leases, and the interest rate of its debt, as well as asset sales.
  • During the third quarter of 2019, the Company terminated the leases for and repossessed four of its aircraft held for lease as a result of significant past due payments from the customer. The customer, a European regional airline and one of the Company’s largest customers based on operating lease revenue, subsequently ceased operations and declared bankruptcy. The Company applied the security deposits and a portion of collected maintenance reserves it held to past due rent due from the customer and recorded $17.0 million of maintenance reserves revenue for the balance of the collected maintenance reserves. The Company also recorded impairment losses totaling $22.3 million for the four aircraft based on appraised values or expected sales proceeds, and reclassified two of the aircraft from held for lease to held for sale. As a result of the lease terminations, the appraised values were based on the maintenance-adjusted condition of the aircraft, rather than the previous basis, which reflected future cash flows under the leases. During the third quarter, the Company also recorded impairment losses of $15,000 on another of its aircraft held for sale and $1.0 million related to airframe parts that are held for sale, both of which were based on estimated sales proceeds. As a result of payment delinquencies by two other customers that lease three of the Company’s aircraft subject to finance leases, during the third quarter of 2019, the Company also recorded a bad debt allowance of $3.9 million.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
Coll freshman Bad
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