AeroCentury posts loss
Independent aircraft leasing company AeroCentury has posted a first quarter net loss of $2.3m or $1.48 per share, compared to net income of $1.9m or $1.20 per share in the first quarter last year.
The company reported total revenues of $4.9m in 1Q 2011 compared with $8.8m for the same period a year ago. The company said lower revenues and higher expenses had been the main factors affecting the results. Expenses for the quarter increased to $8.3m from $6m last year.
