Before we begin, please note that certain statements in this call, including answers to your questions are forward-looking statements within the meaning of the Private Securities Litigation Reform Act, including without limitation, statements regarding our future operations and performance, revenues, operating expenses, other income and expense, and stock-based compensation expense. These statements and any projections as to the company's future performance represent management's estimates of future results and speak only as of today, August 9, 2012.
These estimates involve risks and uncertainties that could cause actual results to differ materially from expectations. Please refer to our filings with the Securities and Exchange Commission for a more detailed description of the risk factors that may affect our results. Air Lease Corporation assumes no obligation to update any forward-looking statements or information in light of new information or future events.
In addition, certain financial measures we will use during this call, such as adjusted EBITDA and adjusted net income are non-GAAP measures and have been adjusted to exclude charges relating to discounts on certain convertible notes and stock-based compensation expense among other charges. A description of our reasons for using these non-GAAP measures as well as our definition of them and their reconciliation to corresponding GAAP measures can be found in the earnings release we issued today.
This release can be found in both the investors and the press section of our website at www.airleasecorp.com. Unauthorized recording of this conference call is not permitted.I would now like to turn the call over to our Chairman and Chief Executive, Steve Hazy. Steven Udvar-Hazy Thanks, Ryan. Good afternoon and thank you for joining us today. I am very pleased to report that Air Lease Corporation achieved a 250% increase in second quarter 2012 earnings per share over 2011 second quarter results. We also recorded a 315% increase in the first half of 2012 EPS versus the first half of 2011, demonstrating execution of our strong growth plans.