Flying car developer finished 2006 with $1.5 million loss

Moller International reported a larger loss in 2006 than it had in 2005, blaming fewer contracts and higher legal costs for the anticipated $1.48 million, or 3 cents per share, loss.

The Davis-based company, which develops, manufactures and markets a proposed vertical take-off and landing vehicle, said the fewer contracts combined with continuing research expenses, legal fees and higher interest contributed to the loss for the last six months of 2006. In the same period of 2005, the company had a net loss of $1.06 million, or 2 cents per share.

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