Sales Rise Doesn’t Stave Off Loss at Fields Aircraft

Fields Aircraft Spares in Simi Valley reported a net loss for the first quarter, despite a 56% increase in sales over the first quarter of 1996.

The net loss for the period was $654,000, almost half of which the company attributed to loan costs and fees associated with the refinancing of its primary loan. Interest expense on the loan for the first three months of this year more than doubled, to $664,000, compared to a year earlier, Fields officials said.

During the quarter ended March 31, 1996, the company had a nonrecurring gain of $653,000 in connection with a casualty insurance claim. For the same quarter, Fields had a net income of $312,000.

For the most recent quarter, the company had an increase in earnings from operations of $42,000.

Fields Aircraft Spares, through its subsidiaries, distributes aircraft cabin interior replacement products and is a broker for factory new parts used in various commercial aircraft models.