AeroCentury reports earnings growth of 80%

AeroCentury has reported earnings growth of 80% to $1.4 million, or $0.87 per diluted share, in the second quarter of 2015, from $752,000, or $0.48 per diluted share, in the first quarter of 2015. Second quarter profits were fueled by the Company’s portfolio modernization program, which is generating gains from sale of older assets. Following the $6.8 million non-cash, pre-tax write-down of certain older aircraft, the net loss in the second quarter of 2014 was $3.9 million, or ($2.54) per diluted share. Net income improved to $2.1 million, or $1.36 per diluted share, for the first six months of 2015,