AeroCentury, an independent aircraft leasing company, reported its operating results for the third quarter ended September 30, 2013. The Company reported a net loss of $0.3 million for the third quarter of 2013, compared to net income of $1.1m for the third quarter of 2012. The Company reported net income of $4.6m for the nine months ended September 30, 2013, compared to net income of $3.4m for the nine months ended September 30, 2012. Total revenues were $6.9m and $27.0m for the third quarter and nine months ended September 30, 2013, respectively, compared to total revenues of $7.1m and $21.4m, respectively, for the same periods a year ago. Operating lease revenue was lower in the third quarter and first nine months of 2013 compared to the same periods a year ago primarily as a result of lower portfolio utilization and reduced revenue for assets for which the Company does not record revenue in advance of cash receipt as a result of substantial uncertainty of collectability. The effects of these decreases were partially offset by increases in operating lease revenue from assets purchased during 2012 and 2013.
Learn more on how AviTrader can expand your market