NetAir International, an airline charter and manufacturing company in Van Nuys, said it lost $454,789 in its fiscal year ended March 31, compared with a loss of $672,429 the previous year. The company's annual revenue jumped 60% to $3.5 million from $2.2 million.
The figures included results from National Jet Charter and ADE Manufacturing, companies that NetAir acquired in November 1986 and January 1987, respectively.
Despite the latest full-year loss, the 4-year-old company posted its first quarterly profit in its fiscal first quarter ended June 30 on revenue of $1.6 million, NetAir President Jonathan Rosenthal said in a statement. The earnings amount was not disclosed.