NetAir International Posts Loss of $346,884 for Year

NetAir International earned $63,128, or less than 1 cent a share, in the fourth quarter that ended March 31 compared to a year-earlier loss of $305,777 caused by acquisition costs. Revenue rose 5% in the quarter to $1.6 million.

For the year, the Van Nuys aircraft leasing and parts company narrowed its loss to $346,884 from $454,789 a year earlier. The current year-end loss was due to one-time charges associated with relocating manufacturing and introducing new aircraft, the company said. Revenue jumped 93% in the fiscal year to $6.8 million from $3.5 million a year earlier.