AeroCentury posts first quarter 2014 net income of $0.4m

AeroCentury, an independent aircraft leasing company, reported its operating results for the first quarter ended March 31st, 2014. The Company reported net income of $0.4m for the first quarter of 2014, compared to net income of $3.8m for the first quarter of 2013. Total revenues were $8.0m for the first quarter ended March 31st, 2014, compared to total revenues of $12.2m for the same period a year ago. Operating lease revenue was higher in the first quarter ended March 31st, 2014, compared to the same period a year ago primarily as a result of increases in operating lease revenue from assets purchased during 2013 and 2014.